Near-optimal algorithms for the assortment planning problem under dynamic substitution and stochastic demand

DOI10.1287/OPRE.2015.1450zbMATH Open1336.90049OpenAlexW290320431MaRDI QIDQ2806071FDOQ2806071

Vineet Goyal, Danny Segev, Retsef Levi

Publication date: 13 May 2016

Published in: Operations Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/opre.2015.1450

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zbMATH Keywords

assortment planningpolynomial time approximation schemesdynamic substitution

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50) Abstract computational complexity for mathematical programming problems (90C60) Inventory, storage, reservoirs (90B05)

Cites Work

• Bin packing can be solved within 1+epsilon in linear time
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• Assortment Planning and Inventory Decisions Under a Locational Choice Model
• Stocking Retail Assortments Under Dynamic Consumer Substitution
• Centralized and Competitive Inventory Models with Demand Substitution
• Management of Multi-Item Retail Inventory Systems with Demand Substitution
• Optimal ordering decisions for two substitutable products with stochastic demands
• A Fully Polynomial-Time Approximation Scheme for Single-Item Stochastic Inventory Control with Discrete Demand
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• Assortment Planning and Inventory Decisions Under Stockout-Based Substitution
• Inventory Models for Substitutable Products: Optimal Policies and Heuristics
• Demand Estimation and Assortment Optimization Under Substitution: Methodology and Application
• The Assortment Problem with Probabilistic Demands
• On the Relationship Between Inventory Costs and Variety Benefits in Retail Assortments
• A quasi-PTAS for unsplittable flow on line graphs
• A QPTAS for TSP with fat weakly disjoint neighborhoods in doubling metrics
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• A quasi-polynomial time approximation scheme for minimum weight triangulation

Cited In (22)

• Stocking Retail Assortments Under Dynamic Consumer Substitution
• The Multiproduct Newsvendor Problem with Customer Choice
• Optimal retail assortments for substitutable items purchased in sets
• Assortment planning with nested preferences: dynamic programming with distributions as states?
• A review of choice-based revenue management: theory and methods
• Joint assortment and inventory optimization for vertically differentiated products under consumer-driven substitution
• Which strategy is better for managing multi-product demand uncertainty: inventory substitution or probabilistic selling?
• Optimal assortment with concave cost functions
• Approximation Algorithms for Dynamic Assortment Optimization Models
• An efficient algorithm for capacitated assortment planning with stochastic demand and substitution
• Robust assortment optimization under sequential product unavailability
• Greedy-Like Algorithms for Dynamic Assortment Planning Under Multinomial Logit Preferences
• Inventory management under price-based and stockout-based substitution
• An exact method for assortment optimization under the nested logit model
• A branch-and-cut algorithm for the latent-class logit assortment problem
• In-out algorithm for assortment planning under a ranking-based consumer choice model
• Retail store operations: literature review and research directions
• Technical Note—Multiproduct Inventory Management Under Customer Substitution and Capacity Restrictions
• Capacitated strategic assortment planning under explicit demand substitution
• The Approximability of Assortment Optimization Under Ranking Preferences
• Technical Note—Capacitated Assortment Optimization Under the Multinomial Logit Model with Nested Consideration Sets
• An optimal stocking problem to minimize the expected time to sellout

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