Download or read book Inventory Positioning in Modern Retail written by Andreea Georgescu (S.M.) and published by . This book was released on 2021 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern retail has been significantly affected by the surge in online platforms and product options. Customers have comfortably settled into an omni-channel model, in which they buy different products through different channels. While customers expect a seamless process in getting the products they are looking for, they are also more influenced by the selection offered when unsure of what to buy. For retailers, the transition to omnichannel means more complex problems of inventory positioning and demand fulfillment, but also an opportunity to influence their customers through the assortments they offer, especially online. In this thesis, we study two main challenges related to inventory positioning in omni-channel and provide new models and algorithms. First, we study the problem of choice modeling and assortment optimization. Choice models aim to capture customer preferences across products and have been extensively studied. Whereas numerous models have been proposed, few are tractable, and many have been shown to be limited in capturing customer preferences, due to their underlying assumptions on consumer behavior. In the first part of this thesis, we introduce a new class of models, which we call synergistic, and show both theoretically and empirically, that these models dominate all existing ones in capturing consumer preferences. We show the associated optimization problems for the synergistic models are NP-hard, but provide IP-based algorithms, which are reasonably tractable in practice. Finally, we show that these models can be represented as ReLU activated neural networks. Therefore, state of the art methods in the neural networks field can be leveraged to efficiently estimate these models and optimize over them, to inform assortment optimization decisions. In the second part of the thesis, we focus on inventory planning for a physical retailer, considering the complex dynamics in the store involving the backroom, and the need to minimize its use. The question is motivated by our collaborator, a large US retail chain, striving to leverage their store assets as shipping hubs. We present a case study of working with real data to understand the complexities of this question and identify steps a retailer can take to become leaner.
Download or read book The Retail Method of Inventory written by Malcolm Perrine McNair and published by . This book was released on 1925 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inventory Positioning for a Multi echelon Distribution Network written by Deepak Avari and published by . This book was released on 2009 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis presents a framework for deciding which products to centralize in a regional distribution center and which products to store decentralized close to the customer sites, for each facility in a multi-echelon distribution network. Our research specifically focuses on developing an optimization model to determine the inventory positioning strategy that minimizes total costs. The model considers both inbound and outbound transportation costs along with inventory holding costs at all facilities in the network. The total cost and responsiveness of the optimal solution are compared with the baseline network, in which inventory is completely decentralized. Our analysis is performed using several products that have diverse characteristics, in terms of demand patterns, lead-times, product costs, service-level requirements, transportation modes, and supplier locations. A sensitivity analysis is performed to study how a variance in these parameters affects the optimal solution. The research suggests that for high volume commodity items the benefits of centralization are highly dependent upon the degree of lane consolidation. However, for low volume specialty items, centralization can provide immediate benefits with no change to the existing transportation network.
Download or read book RETAIL INVENTORY MANAGEMENT written by Prof (Col.) Sameer Misra and published by Book Rivers. This book was released on 2022-05-09 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: All organizations hold stocks. These are the stores of materials they keep until needed. A shop, for example, buys goods from a wholesaler and keeps them into stock till it sells them to customers; a farmer stores hay to feed his animals over the winter; a research company has a stock of information; a bank holds cash for its day-to-day transactions. Whenever an organization has materials that it does not use immediately, it puts them into stock. You might imagine stock as warehouses full of goods but every organization holds stock, even those providing the most intangible service. A retail company stores faces the same problems of inventory management as a giant manufacturer with its stores of finished goods and components. This is a book about Retail Inventory Management. It describes recent thinking about retail stock and methods for its control. We have concentrated on the core questions of retail inventory management in this book What exactly is inventory management in retail? How do decisions about stock affect sales in retail operations? How can we control stocks and overall cost? What information do we need? What is the effect of new methods and technology? The answers to these questions embrace the most important issues of inventory management.
Download or read book Retail Information Systems Based on SAP Products written by Jörg Becker and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concentration tendencies, globalization, increasing cost pressure and well-informed customers all make up the hard competition faced by today's businesses. The "right" products, a successful market image, a strong positioning between suppliers and customers, efficient logistics and optimum organization structures contribute to a company's survival. Achieving this goal requires flexible information and communication systems that are fully adaptable to the specific situation. Modern retail information systems are not bound by organization borders but support both business partner cooperation and electronic commerce. This book presents the architecture of retail information systems, as well as the functions of SAP Retail, and in so doing links modern retail management with the implementation strategies based on innovative software systems.
Download or read book Retail Category Management written by Alexander Hübner and published by Springer Science & Business Media. This book was released on 2011-08-30 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retail shelf management means cost-efficiently aligning retail operations with consumer demand. As consumers expect high product availability and low prices, and retailers are constantly increasing product variety and striving towards high service levels, the complexity of managing retail business and its operations is growing enormously. Retailers need to match consumer demand with shelf supply by balancing variety (number of products) and service levels (number of items of a product), and by optimizing demand and profit through carefully calibrated prices. As a result the core strategic decisions a retailer must make involve assortment sizes, shelf space assignment and pricing levels. Rigorous quantitative methods have emerged as the most promising solution to this problem. The individual chapters in this book therefore focus on three areas: (1) combining assortment and shelf space planning, (2) providing efficient decision support systems for practically relevant problem sizes, and (3) integrating inventory and price optimization into shelf management.
Download or read book Retailing Management written by William R. Davidson, Alton F. Doody, Daniel J. Sweeney and published by . This book was released on 1975 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inventory Positioning Strategies in Multi echelon Distribution Systems written by Peter Michael Arnold and published by . This book was released on 1992 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Definitive Guide to Inventory Management written by CSCMP and published by Pearson Education. This book was released on 2014-03-19 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master and apply both the technical and behavioral skills you need to succeed in any inventory management role or function! Now, there’s an authoritative and comprehensive guide to best-practice inventory management in any organization. Authored by world-class experts in collaboration with the Council of Supply Chain Management Professionals (CSCMP), this text illuminates planning, organizing, controlling, directing, motivating and coordinating all the activities used to efficiently control product flow. The Definitive Guide to Inventory Management covers long-term strategic decisions; mid-term tactical decisions; and even short-term operational decisions. Topics discussed include: Basic inventory management goals, roles, concepts, purposes, and terminology Key inventory management elements, processes, and interactions Principles/strategies for establishing efficient and effective inventory flows Using technology in inventory planning and management New approaches to inventory reduction: postponement, vendor-managed inventories, cross-docking, and quick response systems Trade-offs between inventory and transportation costs, including carrying costs Requirements and challenges of global inventory management Best practices, metrics, and frameworks for assessing inventory management performance
Download or read book Modern Inventory Management written by James W. Prichard and published by . This book was released on 1965 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimization and Inventory Management written by Nita H. Shah and published by Springer Nature. This book was released on 2019-08-31 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.
Download or read book The New Science of Retailing written by Marshall Fisher and published by Harvard Business Press. This book was released on 2010-06-22 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retailers today are drowning in data but lacking in insight: They have huge volumes of information at their disposal. But they're unsure of how to sort through it and use it to make smart decisions. The result? They're struggling with profit-sapping supply chain problems including stock-outs, overstock, and discounting. It doesn't have to be that way. In The New Science of Retailing, supply chain experts Marshall Fisher and Ananth Raman explain how to use analytics to better manage your inventory for faster turns, fewer discounted offerings, and fatter profit margins. Featuring case studies of retailing exemplars from around the world, this practical new book shows you how to: · Mine your sales data to identify "homerun" products you're missing · Reinvent your forecasting and pricing strategies · Build end-to-end agility into your supply chain · Establish incentives that align your supply chain partners behind shared objectives · Extract maximum value from technologies such as point-of-sale scanners and customer loyalty cards Highly readable and compelling, The New Science of Retailing is your playbook for turning all that data into a wellspring for new profits and unprecedented efficiency.
Download or read book Modern Retailing written by Joseph Barry Mason and published by McGraw-Hill/Irwin. This book was released on 1993 with total page 848 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Retail Inventory Method in Practical Operation written by National Retail Dry Goods Association (U.S.). Controllers' Congress and published by . This book was released on 1951 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modern Retailing written by Joseph Barry Mason and published by Irwin Professional Publishing. This book was released on 1990 with total page 850 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retailing in the 21st Century written by Manfred Krafft and published by Springer Science & Business Media. This book was released on 2009-12-17 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: With crisp and insightful contributions from 47 of the world’s leading experts in various facets of retailing, Retailing in the 21st Century offers in one book a compendium of state-of-the-art, cutting-edge knowledge to guide successful retailing in the new millennium. In our competitive world, retailing is an exciting, complex and critical sector of business in most developed as well as emerging economies. Today, the retailing industry is being buffeted by a number of forces simultaneously, for example the growth of online retailing and the advent of ‘radio frequency identification’ (RFID) technology. Making sense of it all is not easy but of vital importance to retailing practitioners, analysts and policymakers.
Download or read book Retail Management written by Prabhu TL and published by Nestfame Creations Pvt. Ltd.. This book was released on 2019-04-21 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retail Management is the process which helps the customers to procure the desired merchandise form the retail stores for their personal use. It includes all the steps required to bring the customers into the store and fulfill their buying needs. Retail management saves time and ensures the customers easily locate their desired merchandise and return home satisfied. Fashion Retail Management gives insight into the principles of fashion marketing, retail buying and merchandising and imparts basic fabric knowledge - from fiber to fabric and fabric to garment. It gives an overview of the concept of visual merchandising and lays emphasis on customer relationship management, brand management and sales management. The various processes which help the customers to procure the desired merchandise from the retail stores for their end use refer to retail management. Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs. Retail management makes shopping a pleasurable experience and ensures the customers leave the store with a smile. In simpler words, retail management helps customers shop without any difficulty. Retailing in any field tends to be an incredibly competitive process and customer-facing stores are perhaps one of the tougher forms of business to manage. There is a lot that can potentially emerge to trip up even the most experienced and diligent of retail business operators but with the right approach, there’s also a huge amount that can be achieved. Here are 5 focus points that might be helpful if you’re looking to improve the way you run your retail business and exceed your customer's expectations. Understand and Respond to What Your Customers Want Like a lot of tips, our first one here is rather more easily said than done but that, in a sense, is precisely the point. Retailers need to do whatever it takes to get to know their customers and to react to what they find out quickly. You might be able to tick over by offering the same products in the same way as a matter of routine but lasting success can generally only be built on flexibility and a willingness to change along with habits among your customers. Get to Know Your Competition Like every other business around, retailers do not exist in a vacuum and it is vital for all manner of reasons that company bosses are aware of what their rivals are offering. These days, retail competitors can come in many different forms, be it online or otherwise, and bosses should frequently take the time to get a sense of the experiences being offered elsewhere. Whether or not you decide to integrate certain ideas into your own operation, competitor research is essential because it lets you know exactly what you’re up against and that information can prove to be invaluable. Invest in Your People The members of a retailer’s workforce are the face of the business on a day-to-day basis and the way that they interact with customers is very important. Hiring the right people to join your team is a key starting point but the story can’t stop there and providing quality training should always be high on the agenda. This goes for staff on the shop floor, as well as supervisors and managers. Always Look to the Future The past may well have a lot to teach us as business bosses but for retailers it’s vital to focus firmly on the future. It’s important not to dwell too much on prior successes or failures and to remain as objective as possible as you assess different situations and dynamics. Every experience is a lesson but a good retail manager will not be obsessed with what has gone before but will be quick to understand where opportunities may lie for the future. Be Ready for Anything One of the great things about being involved in retailing is the sheer variety of the challenges it presents from week to week and year to year. For those in charge of retail companies or operations, there is a lot to be said for expecting the unexpected and being ready to react at all times. Ultimately, the aim should be to focus on solving one problem at a time and not wasting energy on figuring out who to blame when things don’t go quite according to plan.
