Retail Supply Chain Management

The study focuses on some aspects related to the established trends in the design of business intelligent systems (BIS), specialized for use in retail chains for fast-moving consumer goods. Current concepts concerning the design of information systems and their application in commercial systems for managing orders to suppliers are considered. Modern methods have been applied for building a business intelligent module model in order to increase the productivity of the commercial system and to refine the product quantities needed for sales. The proposed model was created with the help of the object-oriented modeling language Unified Model Language (UML), referring to the leading trends in the design of business intelligent systems. Technical diagrams that illustrate the main functionalities of the developed model and represent the interaction between the user and the information system are presented.

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Markdown Optimization with Generalized Weighted Least Squares Estimation

Hekimoğlu

2022

Int J Comput Intell Syst

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Retailers increasingly apply price markdowns for their seasonal products. Efficiency of these markdown applications is driven by the accuracy of empirical models, especially toward the end of a selling season. In the literature, recent sales are recognized to be more important than older sales data for estimating the current period’s demand for a given markdown level. The importance difference between the weeks of a selling season is addressed by weighted least squares (WLS) method with continuous weight functions of time. This study suggests a generalization of the weight functions and a method for optimizing their shape and discretization parameters to stimulate the predictive accuracy of models. We find that addressing the importance difference of recent sales observations using our generalized weight functions improves the forecast accuracy by up to 20%, and most of the improvement stems from our weight discretization method.

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Retail Supply Chain Management

Cited by 15 publications

References 317 publications

The Future Is Bright

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Modeling a Business Intelligent System for Managing Orders to Supplier in the Retail Chain with Unified Model Language

Markdown Optimization with Generalized Weighted Least Squares Estimation

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