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Machine and statistical learning algorithms can be reliably automated and applied at scale. Therefore, they can constitute a considerable asset for designing practical forecasting systems, such as those related to urban water demand.…
In contemporary retail, the variety of products available (e.g. clothing, groceries, cosmetics, frozen goods) make it difficult to predict the demand, prevent stockouts, and find high-potential products. We suggest an agentic AI model that…
One key requirement for effective supply chain management is the quality of its inventory management. Various inventory management methods are typically employed for different types of products based on their demand patterns, product…
Accurate and fast demand forecast is one of the hot topics in supply chain for enabling the precise execution of the corresponding downstream processes (inbound and outbound planning, inventory placement, network planning, etc). We develop…
Accurate demand forecasting is one of the key aspects for successfully managing restaurants and staff canteens. In particular, properly predicting future sales of menu items allows a precise ordering of food stock. From an environmental…
Agricultural products are often subject to seasonal fluctuations in production and demand. Predicting and managing inventory levels in response to these variations can be challenging, leading to either excess inventory or stockouts.…
Demand forecasting is a central component of the replenishment process for retailers, as it provides crucial input for subsequent decision making like ordering processes. In contrast to point estimates, such as the conditional mean of the…
In this focused technical paper, we present long-awaited algorithmic advances toward the efficient construction of near-optimal replenishment policies for a true inventory management classic, the economic warehouse lot scheduling problem.…
E-grocery retailing enables ordering products online to be delivered at a future time slot chosen by the customer. This emerging field of business provides retailers with large and comprehensive new data sets, yet creates several challenges…
Connecting consumers with relevant products is a very important problem in both online and offline commerce. In physical retail, product placement is an effective way to connect consumers with products. However, selecting product locations…
In this paper, we present long-awaited algorithmic advances toward the efficient construction of near-optimal replenishment policies for a true inventory management classic, the economic warehouse lot scheduling problem. While this paradigm…
Demand forecasting in supply chain management (SCM) is critical for optimizing inventory, reducing waste, and improving customer satisfaction. Conventional approaches frequently neglect external influences like weather, festivities, and…
In the field of fresh produce retail, vegetables generally have a relatively limited shelf life, and their quality deteriorates with time. Most vegetable varieties, if not sold on the day of delivery, become difficult to sell the following…
Inventory management in warehouses directly affects profits made by manufacturers. Particularly, large manufacturers produce a very large variety of products that are handled by a significantly large number of retailers. In such a case, the…
Predictive modeling and time-pattern analysis are increasingly critical in this swiftly shifting retail environment to improve operational efficiency and informed decision-making. This paper reports a comprehensive application of…
Accurate demand forecasting in the retail industry is a critical determinant of financial performance and supply chain efficiency. As global markets become increasingly interconnected, businesses are turning towards advanced prediction…
Retail sales and price projections are typically based on time series forecasting. For some product categories, the accuracy of demand forecasts achieved is low, negatively impacting inventory, transport, and replenishment planning. This…
Generating accurate and reliable sales forecasts is crucial in the E-commerce business. The current state-of-the-art techniques are typically univariate methods, which produce forecasts considering only the historical sales data of a single…
Quantile regression is a fundamental problem in statistical learning motivated by a need to quantify uncertainty in predictions, or to model a diverse population without being overly reductive. For instance, epidemiological forecasts, cost…
We consider assortment and inventory planning problems with dynamic stockout-based substitution effects, and without replenishment, in two different settings: (1) Customers can see all available products when they arrive, a typical scenario…