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Order Fulfillment Algorithms For Online Retail
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Book Synopsis Order Fulfillment Algorithms for Online Retail by : Pin-Yi Chen
Download or read book Order Fulfillment Algorithms for Online Retail written by Pin-Yi Chen and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study an order fulfillment problem in an online-retail setting where the retailer's fulfillment system includes warehouses that hold inventory (fulfillment centers), and a transportation network composed of node facilities and transportation arcs. To minimize the total transportation costs for order fulfillment, the online retailer should plan its transportation capacities properly in advance and execute according to the transportation plan by making smart fulfillment decisions. To fulfill a customer order, the online retailer must decide from where to source the inventory needed for the order, as well as how to route the order to the customer to satisfy a delivery time commitment. In this research we focus on the latter decision, namely choosing the route for each order. The online retailer has full control of its transportation system in both planning and execution; in addition, the online retailer can rely on third party carriers to transport some of its orders. We design an order fulfillment algorithm that makes immediate routing decisions for incoming orders. To determine the route to assign to an order, we compare the costs of all feasible routes. For routes that use retailer-controlled resources, we need to account for the opportunity costs associated with these resources. We propose to do this with the dual values from a transportation quadratic program, which tries to account for the uncertainty of the network flows to estimate the opportunity costs of depleting resources in the transportation network. The dual values are updated periodically with the most updated system states that include resource capacities and demand forecasts. We numerically test our algorithm on a realistic network with inputs inspired by the actual data from our industry collaborator. We compare our algorithm with several benchmark algorithms, including a LP-based algorithm that mimics the algorithm in the retailer's current operating system. The experiments show a 50% reduction in the mean percentage difference in shipping cost from the hindsight solution as compared to the LP-based algorithm. In addition to the fulfillment algorithm, we formulate a capacity planning problem that determines the optimal level of transportation resources in the network for a given demand forecast. When the demand deviates from the planned capacity by a lot, adding or removing planned resources becomes a crucial cost-saving mechanism. Motivated by this, we propose ad hoc truck controllers that make online capacity modification decisions and test it with small examples.
Book Synopsis Multi-Item Online Order Fulfillment by : Yanyang Zhao
Download or read book Multi-Item Online Order Fulfillment written by Yanyang Zhao and published by . This book was released on 2020 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The boom of e-commerce in the globe in recent years has expedited the expansion of fulfillment infrastructures by e-retailers. While e-retailers are building more warehouses to offer faster delivery service than ever, the associated fulfillment costs have skyrocketed over the past decade. In this paper, we study the problem of minimizing fulfillment costs, in which an e-retailer must decide which warehouse(s) to fulfill each order from, subject to warehouses' inventory constraints. The e-retailer can split an order, at an additional cost, and fulfill it from different warehouses. It is notoriously challenging to make effective real-time fulfillment decisions at the occurrence of order split, which has become a major problem for e-retailers.We focus on a two-layer distribution network that has been implemented in practice by major e-retailers. We analyze the performance of fulfillment policies that do not rely on demand forecasts. We show that, under an assumption that aligns with the practice of most e-retailers, a myopic policy achieves a constant performance ratio compared to an optimal clairvoyant algorithm. We further show that this ratio is tight. More generally, we characterize the performance guarantees of the myopic policy in terms of the cost parameters of the model. Finally, we complement our theoretical results by conducting a numerical study and demonstrate the good performance of the myopic policy.
Book Synopsis Challenges for the order fulfillment process of online retailers due to the COVID-19 pandemic by : Paul Heck
Download or read book Challenges for the order fulfillment process of online retailers due to the COVID-19 pandemic written by Paul Heck and published by GRIN Verlag. This book was released on 2020-08-26 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2020 in the subject Business economics - Supply, Production, Logistics, grade: 2,0, Cologne Business School Köln, language: English, abstract: This paper aims to identify the challenges for the fulfillment process of online retailers due to the COVID 19 pandemic. No other topic dominates the current public perception more than COVID-19. National, federal and local authorities require their citizens to stay at home and avoid social contact during the pandemic. The result is an e-commerce boom, with online retail orders increasing for example in the US by 146% in comparison to the previous year. However, customers experience that many well-known benefits, such as a seemingly endless selection of affordable products or shipping in two days, are no longer guaranteed. The reason lies in the process of order fulfillment. This process encompasses all the activities a company undertakes from the moment an order is received until the items are delivered, including all customer services. It comprises back-office activities such as packaging, delivery, accounting, inventory management, and shipping as well as front-office activities such as advertising and order acceptance.
Book Synopsis Fulfillment Algorithm for Integrating Stock Between Brick and Mortar and E-commerce by : Scott Douglas Foster (M.B.A.)
Download or read book Fulfillment Algorithm for Integrating Stock Between Brick and Mortar and E-commerce written by Scott Douglas Foster (M.B.A.) and published by . This book was released on 2018 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis proposes a novel fulfillment algorithm which maximizes profits and customer experience through optimal distribution in a multi-period setting for a set of shipping locations that includes both stores and online-only warehouses. Myopic methods do not account for the temporal aspects of the problem. For example, a store should not ship an item to an online customer if there is high expected future demand for that item in-store. Instead, that item should be shipped from a store or warehouse where future expected demand is lower. This optimal choice of fulfillment location increases system-wide profits by preventing cannibalization as well as potentially selling the item before it reaches the sales period. The proposed algorithm also considers important variables related to customer experience such as the amount of time the order will take to be delivered. This algorithm was designed and tested at Zara, a subsidiary of Inditex S.A. A mixed integer program with two periods accounting for expected demand now and in the future is shown to optimally solve for how to fulfill any arbitrary order. However, this algorithm is intractable at larger order sizes. In this case, we create an online algorithm based on a heuristic. Use of this algorithm increases the total expected profit from any unit of inventory entering a store or warehouse by minimizing cannibalization and shipping costs. In addition, this algorithm minimizes the need for inventory re-allocation across the network. At Zara this algorithm was shown to improve the objective function by roughly 0.4% on a system-wide basis as compared to a myopic approach.
Book Synopsis Meta-Heuristic Algorithms for Advanced Distributed Systems by : Rohit Anand
Download or read book Meta-Heuristic Algorithms for Advanced Distributed Systems written by Rohit Anand and published by John Wiley & Sons. This book was released on 2024-04-02 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: META-HEURISTIC ALGORITHMS FOR ADVANCED DISTRIBUTED SYSTEMS Discover a collection of meta-heuristic algorithms for distributed systems in different application domains Meta-heuristic techniques are increasingly gaining favor as tools for optimizing distributed systems—generally, to enhance the utility and precision of database searches. Carefully applied, they can increase system effectiveness, streamline operations, and reduce cost. Since many of these techniques are derived from nature, they offer considerable scope for research and development, with the result that this field is growing rapidly. Meta-Heuristic Algorithms for Advanced Distributed Systems offers an overview of these techniques and their applications in various distributed systems. With strategies based on both global and local searching, it covers a wide range of key topics related to meta-heuristic algorithms. Those interested in the latest developments in distributed systems will find this book indispensable. Meta-Heuristic Algorithms for Advanced Distributed Systems readers will also find: Analysis of security issues, distributed system design, stochastic optimization techniques, and more Detailed discussion of meta-heuristic techniques such as the genetic algorithm, particle swam optimization, and many others Applications of optimized distribution systems in healthcare and other key??industries Meta-Heuristic Algorithms for Advanced Distributed Systems is ideal for academics and researchers studying distributed systems, their design, and their applications.
Book Synopsis Graph Theory: Adiabatic Quantum Computing Methods by : N.B. Singh
Download or read book Graph Theory: Adiabatic Quantum Computing Methods written by N.B. Singh and published by N.B. Singh. This book was released on with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Graph Theory: Adiabatic Quantum Computing Methods" explores the convergence of quantum computing and graph theory, offering a comprehensive examination of how quantum algorithms can tackle fundamental graph problems. From foundational concepts to advanced applications in fields like cryptography, machine learning, and network analysis, this book provides a clear pathway into the evolving landscape of quantum-enhanced graph algorithms. Designed for researchers, students, and professionals alike, it bridges theoretical insights with practical implementations, paving the way for innovative solutions in computational graph theory.
Book Synopsis The Routledge Companion to Production and Operations Management by : Martin K. Starr
Download or read book The Routledge Companion to Production and Operations Management written by Martin K. Starr and published by Taylor & Francis. This book was released on 2017-03-27 with total page 712 pages. Available in PDF, EPUB and Kindle. Book excerpt: This remarkable volume highlights the importance of Production and Operations Management (POM) as a field of study and research contributing to substantial business and social growth. The editors emphasize how POM works with a range of systems—agriculture, disaster management, e-commerce, healthcare, hospitality, military systems, not-for-profit, retail, sports, sustainability, telecommunications, and transport—and how it contributes to the growth of each. Martin K. Starr and Sushil K. Gupta gather an international team of experts to provide researchers and students with a panoramic vision of the field. Divided into eight parts, the book presents the history of POM, and establishes the foundation upon which POM has been built while also revisiting and revitalizing topics that have long been essential. It examines the significance of processes and projects to the fundamental growth of the POM field. Critical emerging themes and new research are examined with open minds and this is followed by opportunities to interface with other business functions. Finally, the next era is discussed in ways that combine practical skill with philosophy in its analysis of POM, including traditional and nontraditional applications, before concluding with the editors’ thoughts on the future of the discipline. Students of POM will find this a comprehensive, definitive resource on the state of the discipline and its future directions.
Book Synopsis Real-Time Omnichannel Fulfillment Optimization by : Zuguang Gao
Download or read book Real-Time Omnichannel Fulfillment Optimization written by Zuguang Gao and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: To successfully implement an omnichannel fulfillment strategy, it is important to protect offline customers from stock-outs due to over-fulfillment of online customers. A natural question is when to fulfill online orders by using in-store inventory. In practice, retailers usually implement a so-called booking limit algorithm that imposes a threshold (i.e., booking limit) on the maximum number of online orders of a product that can be fulfilled from stores, and this booking limit is usually static. In this paper, we aim to theoretically quantify the performance of online booking limit algorithms in the context of omnichannel fulfillment. We first prove that for the continuous version of the problem where partial fulfillment is allowed, a booking limit algorithm with static booking limits can achieve tight competitive ratio when initial inventory is identical across stores, which extends the celebrated tightness result of booking limit algorithms in the context of single-leg two-fare revenue management studied by Ball and Queyranne (2009) from one dimension to higher dimensions. We then show that static booking limit algorithms cannot achieve tight competitive ratio when initial inventory is non-identical even for the two-store setting, and develop a more sophisticated algorithm where booking limits can be adjusted over time based on realized demands via solving a math program. This adaptive booking limit algorithm can achieve tight competitive ratio. To extend our analysis and algorithm to the discrete setting, we propose a novel online rounding scheme, and prove that the expected profit of this “randomized booking limit” algorithm exactly matches the corresponding deterministic fractional algorithm. Finally, we conduct a concise numerical study to demonstrate the performance of booking limit algorithms under realistic (non-worst-case) demand sequences.
Book Synopsis Supply Chain Scheduling by : Zhi-Long Chen
Download or read book Supply Chain Scheduling written by Zhi-Long Chen and published by Springer Nature. This book was released on 2022-02-07 with total page 699 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply chain scheduling is a relatively new research area with less than 20 years of history. It is an intersection of two traditional areas: supply chain management and scheduling. In this book, the authors provide a comprehensive coverage of supply chain scheduling. The book covers applications, solution algorithms for solving related problems, evaluation of supply chain conflicts, and models for encouraging cooperation between decision makers. Supply chain scheduling studies detailed scheduling issues within supply chains, as motivated by a variety of applications in the real world. Topics covered by the book include: Coordinated decision making in centralized supply chains, including integrated production and distribution scheduling, joint scheduling and product pricing, and coordinated subcontracting and scheduling. Coordination and competition issues in decentralized supply chains, including conflict and cooperation within scheduling decisions made by different parties in supply chains, and both cooperative and non-cooperative supply chain scheduling games. The book describes a variety of representative problems within each of these topics. The authors define these problems mathematically, describe corresponding applications, and introduce solution methods for solving each problem to improve supply chain performance.
Book Synopsis Logistics and Supply Chain Innovation by : Henk Zijm
Download or read book Logistics and Supply Chain Innovation written by Henk Zijm and published by Springer. This book was released on 2015-09-01 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This contributed volume presents state-of-the-art advances in logistics theory in various fields as well as case studies. The book reports on a number of recently conducted studies in the Dinalog and the EffizienzCluster LogistikRuhr, thus bridging the gap between different perspectives of theoretical and applied research. A selection of theoretical topics, practical examples, case studies and project reports is presented in this volume. The editors carefully selected contributions from a wide variety of projects, which were carried out in both the Dinalog cluster and the Effizienzcluster LogistikRuhr. The contributions are grouped in five main sections, each representing key domains in the evolution of logistics and supply chain management: sustainability, urban logistics, value chain management, IT-based innovation, knowledge management. This book is intended for both researchers and practitioners in the field of logistics and supply chain management, to serve as an important source of information for further research as well as to stimulate further innovation.
Book Synopsis Intelligent and Fuzzy Systems by : Cengiz Kahraman
Download or read book Intelligent and Fuzzy Systems written by Cengiz Kahraman and published by Springer Nature. This book was released on with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022) by : Nebojša Radojević
Download or read book Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022) written by Nebojša Radojević and published by Springer Nature. This book was released on 2022-12-28 with total page 1259 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book.With the continuous upgrading of network information technology, especially the combination of information technology such as Internet - cloud computing - blockchain - Internet of Things and in social and economic activities, through artificial intelligence, Internet and big data with high quality and fast processing efficiency improvement, economic form from industrial economy to information economy. This will greatly reduce social transaction costs, improve the efficiency of resource optimization, increase the added value of products, enterprises and industries, and promote the rapid development of social productivity. The 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022) will focus on the latest research on "Artificial Intelligence, Internet and Digital Economy", which brings together experts, scholars, researchers and related practitioners from around the world to share research results, discuss hot issues, and provide attendees with cutting-edge technology information to keep them abreast of industry developments, the latest technologies, and broaden their research horizons.
Book Synopsis Order Fulfillment in Online Retailing by : Ping Josephine Xu
Download or read book Order Fulfillment in Online Retailing written by Ping Josephine Xu and published by . This book was released on 2005 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: (cont.) We examine the benefits from periodically re-evaluating these real-time assignments. We construct near- optimal heuristics for the re-assignment for a large set of customer orders by minimizing the total number of shipments. Finally, we present saving opportunities by testing the heuristics on order data from a major e-tailer. Third, we focus on the inventory allocation among warehouses for low-demand SKUs. A large e-tailer strategically stocks inventory for SKUs with low demand. The motivations are to provide a wide range of selections and faster customer fulfillment service. We assume the e-tailer has the technological capability to manage and control the inventory globally: all warehouses act as one to serve the global demand simultaneously. The e-tailer will utilize its entire inventory, regardless of location, to serve demand. Given we stock certain units of system inventory, we allocate inventory to warehouses by minimizing outbound transportation costs. We analyze a few simple cases and present a methodology for more general problems.
Book Synopsis Retail Supply Chain Management by : Narendra Agrawal
Download or read book Retail Supply Chain Management written by Narendra Agrawal and published by Springer. This book was released on 2015-04-20 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition focuses on three crucial areas of retail supply chain management: (1) empirical studies of retail supply chain practices, (2) assortment and inventory planning and (3) integrating price optimization into retail supply chain decisions. The book has been fully updated, expanding on the distinguishing features of the original, while offering three new chapters on recent topics which reflect areas of great interest and relevance to the academic and professional communities alike - inventory management in the presence of data inaccuracies, retail workforce management, and fast fashion retail strategies. The innovations, lessons for practice, and new technological solutions for managing retail supply chains are important not just in retailing, but offer crucial insights and strategies for the ultimate effective management of supply chains in other industries as well. The retail industry has emerged as a fascinating choice for researchers in the field of supply chain management. It presents a vast array of stimulating challenges that have long provided the context of much of the research in the area of operations research and inventory management. However, in recent years, advances in computing capabilities and information technologies, hyper-competition in the retail industry, emergence of multiple retail formats and distribution channels, an ever increasing trend towards a globally dispersed retail network, and a better understanding of the importance of collaboration in the extended supply chain have led to a surge in academic research on topics in retail supply chain management. Many supply chain innovations (e.g., vendor managed inventory) were first conceived and successfully validated in this industry, and have since been adopted in others. Conversely, many retailers have been quick to adopt cutting edge practices that first originated in other industries. Retail Supply Chain Management: Quantitative Models and Empirical Studies, 2nd Ed. is an attempt to summarize the state of the art in this research, as well as offer a perspective on what new applications may lie ahead.
Book Synopsis Strategic Innovations of AI and ML for E-Commerce Data Security by : Kaur, Gaganpreet
Download or read book Strategic Innovations of AI and ML for E-Commerce Data Security written by Kaur, Gaganpreet and published by IGI Global. This book was released on 2024-09-13 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: As e-commerce continues to increase in usage and popularity, safeguarding consumers private data becomes critical. Strategic innovations in artificial intelligence and machine learning revolutionize data security by offering advanced tools for threat detection and mitigation. Integrating AI and machine learning into their security solutions will allow businesses to build customer trust and maintain a competitive edge throughout the growing digital landscapes. A thorough examination of cutting-edge innovations in e-commerce data security may ensure security measures keep up with current technological advancements in the industry. Strategic Innovations of AI and ML for E-Commerce Data Security explores practical applications in data security, algorithms, and modelling. It examines solutions for securing e-commerce data, utilizing AI and machine learning for modelling techniques, and navigating complex algorithms. This book covers topics such as data science, threat detection, and cybersecurity, and is a useful resource for computer engineers, data scientists, business owners, academicians, scientists, and researchers.
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.
Download or read book Fast Fulfillment written by Sanchoy Das and published by Business Expert Press. This book was released on 2021-08-09 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insights and process details of how to design and build disruptive innovations, so that you are not flying blind or just throwing darts in an effort to pivot/expand to the online order fulfillment world. The fulfillment machine is the delivery side infrastructure of an online business, it is the physical and digital innovations which make it possible to immediately deliver customer orders. Customers want to order everything, while sitting on their couch and they want immediate fulfillment. Fast fulfillment is happening, and everyone knows that, but most are scared of it. Many experts describe the wonders of online retail, but none explains what fast fulfillment is or propose a solution to building a fast fulfillment machine. Managers are frustrated just reading about how great Amazon is, and how startups are innovating fantastic technology driven processes. Here is the book, written in a simple easy to read style which unravels the technical mystery of the fulfillment machine. It levels the knowledge field, reveals the secrets of fast fulfillment, and helps the reader construct a plan to innovate and be ready to face the disruptors. What is happening in retail is contagious across industries, there are no wide moats. Managers and engineers are rushing to redesign their supply chains into fast fulfillment machines. This book provides insights and process details of how to design and build disruptive innovations, so that you are not flying blind or just throwing darts in an effort to pivot/expand to the online order fulfillment world. The book does not story-tell the fast fulfillment machine, it is informative and instructive.
