Matches in Harvard for { <http://id.lib.harvard.edu/aleph/008476676/catalog> ?p ?o. }
Showing items 1 to 19 of
19
with 100 items per page.
- catalog abstract "Most retailers are interested in estimating demand and lost sales at their stores but estimating these metrics is difficult. Unlike sales, demand and lost sales are not directly observable in most retail environments, and retailers lack appropriate statistical techniques to estimate them from sales and inventory data. We show how techniques from management science can be adapted for estimating demand and lost sales in a retail environment. Our technique exploits the capture of real-time sales data that are available to most retailers today. These data enable retailers to identify the time at which particular items stock out in specific stores. Our approach is simple to implement, works even when demand is non-stationary, and accommodates situations in which consumers might purchase more than one unit of a particular item. Moreover, our estimates can be easily added across products and stores to derive estimates for aggregated demand and lost sales. We validated our assumptions using data from multiple retailers, and validated our technique using sales and inventory data for a single item from twenty-two stores evenly divided between two retail chains. Demand was not stationary and customers frequently purchased more than one unit of the item. We were able to estimate demand rate and lost sales for the item at each store within 2.5% of demand. Based on a comparison with other techniques described in the literature, we show that our technique provides superior estimates. Finally, we report briefly on our current experience with an on-going implementation at a jewellery r".
- catalog contributor b11825145.
- catalog contributor b11825146.
- catalog contributor b11825147.
- catalog created "c2000.".
- catalog date "2000".
- catalog date "c2000.".
- catalog dateCopyrighted "c2000.".
- catalog description "Includes bibliographical references (p. 38-39).".
- catalog description "Most retailers are interested in estimating demand and lost sales at their stores but estimating these metrics is difficult. Unlike sales, demand and lost sales are not directly observable in most retail environments, and retailers lack appropriate statistical techniques to estimate them from sales and inventory data. We show how techniques from management science can be adapted for estimating demand and lost sales in a retail environment. Our technique exploits the capture of real-time sales data that are available to most retailers today. These data enable retailers to identify the time at which particular items stock out in specific stores. Our approach is simple to implement, works even when demand is non-stationary, and accommodates situations in which consumers might purchase more than one unit of a particular item. Moreover, our estimates can be easily added across products and stores to derive estimates for aggregated demand and lost sales. We validated our assumptions using data from multiple retailers, and validated our technique using sales and inventory data for a single item from twenty-two stores evenly divided between two retail chains. Demand was not stationary and customers frequently purchased more than one unit of the item. We were able to estimate demand rate and lost sales for the item at each store within 2.5% of demand. Based on a comparison with other techniques described in the literature, we show that our technique provides superior estimates. Finally, we report briefly on our current experience with an on-going implementation at a jewellery r".
- catalog extent "39 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; 01-006.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 01-006".
- catalog issued "2000".
- catalog issued "c2000.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Estimating retail demand and lost sales / Ananth Raman, Giulio Zotti.".
- catalog type "text".