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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…
With the growing demand for healthy foods, agricultural product price forecasting has become increasingly important. Hass avocados, as a high-value crop, exhibit complex price fluctuations influenced by factors such as seasonality, region,…
This paper shows a comprehensive analysis of three algorithms (Time Series, Random Forest (RF) and Deep Reinforcement Learning) into three inventory models (the Lost Sales, Dual-Sourcing and Multi-Echelon Inventory Model). These…
Assortment optimization seeks to select a subset of substitutable products, subject to constraints, to maximize expected revenue. The problem is NP-hard due to its combinatorial and nonlinear nature and arises frequently in industries such…
We study an online learning problem on dynamic pricing and resource allocation, where we make joint pricing and inventory decisions to maximize the overall net profit. We consider the stochastic dependence of demands on the price, which…
The assortment planning problem is a central piece in the revenue management strategy of any company in the retail industry. In this paper, we study a robust assortment optimization problem for substitutable products under a sequential…
Lately, personalized marketing has become important for retail/e-retail firms due to significant rise in online shopping and market competition. Increase in online shopping and high market competition has led to an increase in promotional…
This thesis investigates the use of problem-specific knowledge to enhance a genetic algorithm approach to multiple-choice optimisation problems.It shows that such information can significantly enhance performance, but that the choice of…
Supply chains are fundamental to the economy of the world and many supply chains focus on perishable items, such as food, or even clothing that is subject to a limited shelf life due to fashion and seasonable effects. G-networks have not…
This paper presents a novel approach to optimizing pricing and replenishment strategies in fresh food supermarkets by combining Long Short-Term Memory (LSTM) networks with Particle Swarm Optimization (PSO). The LSTM model, enhanced with an…
We describe a novel decision-making problem developed in response to the demands of retail electronic commerce (e-commerce). While working with logistics and retail industry business collaborators, we found that the cost of delivery of…
Accurate prediction of agricultural crop prices is a crucial input for decision-making by various stakeholders in agriculture: farmers, consumers, retailers, wholesalers, and the Government. These decisions have significant implications…
Currently, almost all direct marketing activities take place virtually rather than in person, weakening interpersonal skills at an alarming pace. Furthermore, businesses have been striving to sense and foster the tendency of their clients…
Product ranking is the core problem for revenue-maximizing online retailers. To design proper product ranking algorithms, various consumer choice models are proposed to characterize the consumers' behaviors when they are provided with a…
The increase in customer expectation in terms of cost and services rendered, coupled with competitive business environment and uncertainty in cost of raw materials have posed challenges on effective supply chain engineering making it…
Strategic product placement can have a strong influence on customer purchase behavior in physical stores as well as online platforms. Motivated by this, we consider the problem of optimizing the placement of substitutable products in…
We revisit the problem of large-scale assortment optimization under the multinomial logit choice model without any assumptions on the structure of the feasible assortments. Scalable real-time assortment optimization has become essential in…
E-commerce recommendation systems aim to generate ordered lists of items for customers, optimizing multiple business objectives, such as clicks, conversions and Gross Merchandise Volume (GMV). Traditional multi-objective optimization…
Inventory management is considered to be an important field in Supply Chain Management because the cost of inventories in a supply chain accounts for about 30 percent of the value of the product. The service provided to the customer…
Bundle pricing refers to designing several product combinations (i.e., bundles) and determining their prices in order to maximize the expected profit. It is a classic problem in revenue management and arises in many industries, such as…