An optimal stocking problem to minimize the expected time to sellout

Sheldon Ross; Sridhar Seshadri

doi:10.1016/j.orl.2020.11.006

An optimal stocking problem to minimize the expected time to sellout

Research output: Contribution to journal › Article › peer-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 language	English (US)
Pages (from-to)	69-75
Number of pages	7
Journal	Operations Research Letters
Volume	49
Issue number	1
DOIs	https://doi.org/10.1016/j.orl.2020.11.006
State	Published - Jan 2021
Externally published	Yes

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

Online availability

10.1016/j.orl.2020.11.006

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title = "An optimal stocking problem to minimize the expected time to sellout",

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.",

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KW - Time to sellout

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An optimal stocking problem to minimize the expected time to sellout

Abstract

Keywords

ASJC Scopus subject areas

Online availability

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