TY  - BOOK
AU  - Sachs,Anna-Lena
TI  - Retail analytics: integrated forecasting and inventory management for perishable products in retailing 
T2  - Lecture Notes in Economics and Mathematical Systems,
SN  - 9783319133058
U1  - 005.768  1
PY  - 2015///
CY  - Cham
PB  - Springer International Publishing, Imprint: Springer
KW  - Production management
KW  - Operations research
KW  - Decision making
KW  - Management science
KW  - Sales management
KW  - Operations Management
KW  - Operations Research/Decision Theory
KW  - Operations Research, Management Science
KW  - Sales/Distribution
N1  - Introduction -- Literature Review -- Safety Stock Planning under Causal Demand Forecasting -- The Data-Driven Newsvendor with Censored Demand Observations -- Data-Driven Order Policies with Censored Demand and Substitution -- Empirical Newsvendor Decisions under a Service Contract -- Conclusions
N2  - This book addresses the challenging task of demand forecasting and inventory management in retailing. It analyzes how information from point-of-sale scanner systems can be used to improve inventory decisions, and develops a data-driven approach that integrates demand forecasting and inventory management for perishable products, while taking unobservable lost sales and substitution into account in out-of-stock situations. Using linear programming, a new inventory function that reflects the causal relationship between demand and external factors such as price and weather is proposed. The book subsequently demonstrates the benefits of this new approach in numerical studies that utilize real data collected at a large European retail chain. Furthermore, the book derives an optimal inventory policy for a multi-product setting in which the decision-maker faces an aggregated service level target, and analyzes whether the decision-maker is subject to behavioral biases based on real data for bakery products
ER  -