An optimal stocking problem to minimize the expected time to sellout

Sheldon Ross, Sridhar Seshadri

Research output: Contribution to journalArticlepeer-review

Abstract

We consider an assortment planning problem where the objective is to minimize the expected time to sell all items in the assortment. We provide several structural results for the optimal assortment. We present a heuristic policy, which we prove is asymptotically optimal. We also show that there are alternate objective criteria under which the problem simplifies considerably.

Original languageEnglish (US)
Pages (from-to)69-75
Number of pages7
JournalOperations Research Letters
Volume49
Issue number1
DOIs
StatePublished - Jan 2021

Keywords

  • Assortment planning
  • Inventory planning
  • Optimal stocking
  • Time to sellout

ASJC Scopus subject areas

  • Software
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering
  • Applied Mathematics

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