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Data Driven Pricing And Inventory Management With Applications In Fashion Retail
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Book Synopsis Data-driven Pricing and Inventory Management with Applications in Fashion Retail by : Mila Nambiar
Download or read book Data-driven Pricing and Inventory Management with Applications in Fashion Retail written by Mila Nambiar and published by . This book was released on 2019 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fashion retail is typically characterized by (1) high demand uncertainty and products with short life cycles, which complicates demand forecasting, and (2) low salvage values and long supply lead times, which penalizes for inaccurate demand forecasting. In this thesis, we are interested in the design of algorithms that leverage fashion retail data to improve demand forecasting, and that make revenue-maximizing or cost-minimizing pricing and inventory management decisions. First, we study a multi-period dynamic pricing problem with feature information. We are especially interested in demand model misspecification, and show that it can lead to price endogeneity, and hence inconsistent price elasticity estimates and suboptimal pricing decisions. We propose a "random price shock" (RPS) algorithm that combines instrumental variables, well known in econometrics, with online learning, in order to simultaneously estimate demand and optimize revenue. We demonstrate strong theoretical guarantees on the regret of RPS for both IID and non ID features, and numerically validate the algorithm's performance on synthetic data. Next, we present a case study in collaboration with Oracle Retail. We extend RPS to incorporate common business constraints such as markdown pricing and inventory constraints. We then conduct a counterfactual analysis where we simulate the algorithm's performance using fashion retail data. Our analysis estimates that the RPS algorithm will increase by 2-7% relative to current practice. Finally, we study an inventory allocation problem in a single-warehouse multiple-retailer setting with lost sales. We show that under general conditions this problem is convex, and that a Lagrangian relaxation-based approach can be applied to solve it in a computationally tractable, and near-optimal way. This analysis allows us to prove structural results that give insights into how the allocation policy should depend on factors such as the retailer demand distributions, and demand learning.
Book Synopsis Data-Driven Dynamic Pricing and Inventory Management of an Omni-Channel Retailer in an Uncertain Demand Environment by : Shiyu Liu
Download or read book Data-Driven Dynamic Pricing and Inventory Management of an Omni-Channel Retailer in an Uncertain Demand Environment written by Shiyu Liu and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, omni-channel retailing has become immensely popular among both retailers and consumers. In this approach, retailers often leverage their brick-and-mortar stores to fulfill online orders, leading to the need for simultaneous decision-making on replenishment and inventory rationing. This inventory strategy presents significant complexities in traditional dynamic pricing and inventory management problems, particularly in unpredictable market environments. Therefore, we have developed a dynamic pricing, replenishment, and rationing model for omni-channel retailers using a two-level partially observed Markov decision process to visualize the dynamic process. We design a deep reinforcement learning algorithm, called Maskable LSTM-Proximal Policy Optimization (ML-PPO), which integrates the current observations and future predictions as input to the agent and uses the invalid action mask to guarantee the allowable actions. Our simulation experiments have demonstrated the ML-PPO's efficiency in maximizing retailer profit and service level, along with its generalized ability to tackle dynamic pricing and inventory management problems.
Book Synopsis Fashion Merchandising by : Dr Sukhvir Singh
Download or read book Fashion Merchandising written by Dr Sukhvir Singh and published by LWRN Studio. This book was released on 2024-03-02 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Welcome to "Fashion Merchandising" authored by Dr. Sukhvir Singh, Professor and Associate Dean of the Faculty of Fashion and Design at SGT University, Gurgaon. This book is the culmination of years of research, teaching, and industry experience, aimed at providing readers with a comprehensive understanding of the intricacies of fashion business and merchandising. Fashion merchandising is a dynamic field that sits at the intersection of creativity and commerce. It encompasses a wide range of activities, from trend forecasting and product development to retail management and consumer behaviour analysis. In this book, I have endeavoured to cover these diverse aspects comprehensively, offering readers a holistic view of the fashion merchandising landscape. Throughout the chapters of this book, readers will embark on a journey that explores the fundamental principles of fashion merchandising, delves into the intricacies of retail management, and examines the latest trends and technologies shaping the industry. Drawing from real-world examples and case studies, I have sought to provide practical insights and actionable strategies that readers can apply in their academic pursuits and professional endeavours. Whether you are a student aspiring to enter the world of fashion, an educator seeking to enhance your curriculum, or a seasoned professional looking to stay abreast of industry trends, "Fashion Merchandising" offers something for everyone. It is my sincere hope that this book serves as a valuable resource and inspires readers to embark on their own journey of exploration and discovery within the dynamic realm of fashion merchandising.
Book Synopsis Artificial Intelligence for Fashion Industry in the Big Data Era by : Sébastien Thomassey
Download or read book Artificial Intelligence for Fashion Industry in the Big Data Era written by Sébastien Thomassey and published by Springer. This book was released on 2018-05-16 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of current issues and challenges in the fashion industry and an update on data-driven artificial intelligence (AI) techniques and their potential implementation in response to those challenges. Each chapter starts off with an example of a data-driven AI technique on a particular sector of the fashion industry (design, manufacturing, supply or retailing), before moving on to illustrate its implementation in a real-world application
Book Synopsis Fashion Business and Digital Transformation by : Charlene Gallery
Download or read book Fashion Business and Digital Transformation written by Charlene Gallery and published by Taylor & Francis. This book was released on 2024-06-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fashion Business and Digital Transformation provides a practical and holistic overview of the fashion industry and the key technologies impacting the fashion supply chain. It covers product design and development, production, sales and customer experiences in physical, online and virtual environments. The key technologies impacting the ecosystem are explored, including artificial intelligence, virtual reality, augmented reality, digital fashion design, NFTs, 3D textiles, and blockchain. Strategic concepts such as ‘retail-tainment’, ‘phygital’, gamification and e-commerce, are analysed, alongside the effect of these key strategies for both the retailer and the customer. Theoretical foundations are supported by extensive use of examples, interviews and case studies drawn from a wide range of global fashion disrupters and cutting-edge brands. Engaging activities, exercises, and technical step-by-step guides are incorporated throughout, which will both consolidate how technology is driving change in the industry, but also equip the reader with the key skills and digital literacy capabilities required by future practitioners. Online resources include chapter-by-chapter PowerPoint slides, a test bank and links to further resources. This examination of the digital transformation of the fashion industry will be essential reading for advanced undergraduate and postgraduate students of Fashion Management, Fashion Business and Fashion Technology.
Book Synopsis ARTIFICIAL INTELLIGENCE in FASHION INDUSTRY by : Sabeer Mehta
Download or read book ARTIFICIAL INTELLIGENCE in FASHION INDUSTRY written by Sabeer Mehta and published by Abhishek Publications. This book was released on 2024-05-01 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: Al in the Fashion Industry uncovers the revolutionary impact of artificial intelligence on the fashion world, illustrating how Al technologies are reshaping everything from design and production to marketing and customer experience. This compelling book provides a detailed examination of how Al-driven innovations like predictive analytics, virtual fitting rooms, and automated supply chains are enabling fashion brands to enhance efficiency, creativity, and personalization. Through an array of case studies and expert insights, the book offers a comprehensive look at how AI is driving unprecedented transformation and setting new standards in the fashion industry.
Book Synopsis Fashion Retail Supply Chain Management by : Tsan-Ming Choi
Download or read book Fashion Retail Supply Chain Management written by Tsan-Ming Choi and published by CRC Press. This book was released on 2014-05-06 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fashion Retail Supply Chain Management: A Systems Optimization Approach is a comprehensive reference source that provides the state-of-the-art findings on many important emerging research issues related to retail supply chain management and optimization problems. The book takes an explicit systems approach, and discusses retailled fashion supply ch
Book Synopsis Fashion forward Merchandising in the Digital Era by : Priya Shahi
Download or read book Fashion forward Merchandising in the Digital Era written by Priya Shahi and published by Abhishek Publications. This book was released on 2024-06-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fashion Forward: Merchandising in the Digital Era" delves into the transformative impact of digital technology on the fashion industry, particularly in merchandising. This book explores how e-commerce, social media, and advanced analytics have revolutionized traditional practices, enabling brands to reach global audiences, personalize shopping experiences, and optimize their supply chains. Through a blend of expert insights, case studies, and practical strategies, "Fashion Forward" provides a comprehensive guide for fashion professionals looking to navigate and thrive in the fast-evolving digital landscape.
Book Synopsis Research Handbook on Inventory Management by : Jing-Sheng J. Song
Download or read book Research Handbook on Inventory Management written by Jing-Sheng J. Song and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Book Synopsis Digital Fashion by : Dr Sukhvir Singh
Download or read book Digital Fashion written by Dr Sukhvir Singh and published by LWRN Studio. This book was released on 2023-10-20 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Digital Fashion," authored by the esteemed Professor Dr. Sukhvir Singh & Mr. Rikhil Nagpal, is a visionary exploration of the transformative intersection of technology and the fashion industry. This illuminating book encapsulates the dynamic evolution of fashion, guided by the forces of digitalization. From the fusion of 3D printing and virtual modelling to the integration of artificial intelligence, sustainability, and ethical considerations, This Masterpiece offers a comprehensive and insightful view of the digital fashion landscape. Through compelling insights, it delves into the ethical, ecological, and technological dimensions, serving as a compelling guide for navigating the vibrant future of fashion.
Book Synopsis Aie, Fashion Marketing by : Dotty Boen Oelkers
Download or read book Aie, Fashion Marketing written by Dotty Boen Oelkers and published by . This book was released on 2003-02 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains marginal notes with suggestions for activities and projects as well as ideas for classroom discussion.
Book Synopsis DATA ANALYTICS by : Dr. Manish Kumar
Download or read book DATA ANALYTICS written by Dr. Manish Kumar and published by Archers & Elevators Publishing House. This book was released on with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intelligent Fashion Forecasting Systems: Models and Applications by : Tsan-Ming Choi
Download or read book Intelligent Fashion Forecasting Systems: Models and Applications written by Tsan-Ming Choi and published by Springer Science & Business Media. This book was released on 2013-11-29 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forecasting is a crucial function for companies in the fashion industry, but for many real-life forecasting applications in the, the data patterns are notorious for being highly volatile and it is very difficult, if not impossible, to analytically learn about the underlying patterns. As a result, many traditional methods (such as pure statistical models) will fail to make a sound prediction. Over the past decade, advances in artificial intelligence and computing technologies have provided an alternative way of generating precise and accurate forecasting results for fashion businesses. Despite being an important and timely topic, there is currently an absence of a comprehensive reference source that provides up-to-date theoretical and applied research findings on the subject of intelligent fashion forecasting systems. This three-part handbook fulfills this need and covers materials ranging from introductory studies and technical reviews, theoretical modeling research, to intelligent fashion forecasting applications and analysis. This book is suitable for academic researchers, graduate students, senior undergraduate students and practitioners who are interested in the latest research on fashion forecasting.
Book Synopsis Handbook of Artificial Intelligence Applications for Industrial Sustainability by : Vikas Garg
Download or read book Handbook of Artificial Intelligence Applications for Industrial Sustainability written by Vikas Garg and published by CRC Press. This book was released on 2024-01-30 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The subject of Artificial Intelligence (AI) is continuing on its journey of affecting each and every individual and will keep on this path in the times to come. This handbook is a collection of topics on the application of artificial intelligence applications for sustainability in different areas. It provides an insight into the various uses of concepts and practical examples for different domains all in one place, which makes it unique and important for the potential reader. Handbook of Artificial Intelligence Applications for Industrial Sustainability: Concepts and Practical Examples examines the influence of AI and how it can be used in several industries to improve corporate performance, reduce security concerns, improve customer experience, and ultimately generate value for customers and maximize profits. The handbook offers practical examples, concepts, and applications that provide an easy understanding and implementation process. It provides AI applications in many fields, such as sustainable credit decisions, cyber security and fraud prevention, warehouse management, and much more. This handbook will provide insight to customers, managers, professionals, engineers, researchers, and students on the various uses of AI and sustainability in different domains. All of this needed information compiled into one handbook makes it unique and important for the engineering, business, and computer science communities.
Download or read book CIO written by and published by . This book was released on 2005-12-01 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Computerworld written by and published by . This book was released on 1999-11-15 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: For more than 40 years, Computerworld has been the leading source of technology news and information for IT influencers worldwide. Computerworld's award-winning Web site (Computerworld.com), twice-monthly publication, focused conference series and custom research form the hub of the world's largest global IT media network.
Book Synopsis Driving Green Marketing in Fashion and Retail by : Tarnanidis, Theodore K.
Download or read book Driving Green Marketing in Fashion and Retail written by Tarnanidis, Theodore K. and published by IGI Global. This book was released on 2024-05-28 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, sustainability is a critical issue in the fashion industry. However, it can be challenging for fashion businesses to adopt green marketing strategies while keeping up with digital innovations. The book, Driving Green Marketing in Fashion and Retail, explores cutting-edge techniques to provide solutions to this challenge. It is an essential guide for fashion marketers looking to align their practices with environmental responsibility. As consumers become increasingly conscious of the environmental and social impacts of their purchasing decisions, fashion brands must adapt or risk being left behind. This book offers a comprehensive roadmap for embracing sustainability through digital marketing channels. From leveraging AI and big data analytics to implementing eco-friendly packaging solutions, each chapter presents actionable insights tailored to the modern fashion landscape.
