Assortment optimization over time

James M. Davis; Huseyin Topaloglu; David P. Williamson

doi:10.1016/j.orl.2015.08.007

Assortment optimization over time

James M. Davis, Huseyin Topaloglu, David P. Williamson

Industrial and Enterprise Systems Engineering

Research output: Contribution to journal › Article › peer-review

Abstract

In this note we introduce the problem of assortment optimization over time. We have a sequence of time steps and can introduce one new product per time step. Once introduced a product cannot be removed. The goal is to determine which products to introduce so as to maximize revenue over all time steps under some choice model. Given a 1/α-approximation algorithm for the capacitated assortment optimization problem we give a 1/2α-approximation algorithm for this problem.

Original language	English (US)
Article number	5986
Pages (from-to)	608-611
Number of pages	4
Journal	Operations Research Letters
Volume	43
Issue number	6
DOIs	https://doi.org/10.1016/j.orl.2015.08.007
State	Published - Sep 26 2015

Keywords

Approximation algorithms
Assortment optimization
Choice models
Revenue management

ASJC Scopus subject areas

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

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title = "Assortment optimization over time",

abstract = "In this note we introduce the problem of assortment optimization over time. We have a sequence of time steps and can introduce one new product per time step. Once introduced a product cannot be removed. The goal is to determine which products to introduce so as to maximize revenue over all time steps under some choice model. Given a 1/α-approximation algorithm for the capacitated assortment optimization problem we give a 1/2α-approximation algorithm for this problem.",

keywords = "Approximation algorithms, Assortment optimization, Choice models, Revenue management",

author = "Davis, {James M.} and Huseyin Topaloglu and Williamson, {David P.}",

note = "Funding Information: The first author was supported in part by National Science Foundation grant DGE-0707428 . The second author was supported in part by National Science Foundation grant CMMI-1433398 and CMMI-0969113 . The third author was supported in part by National Science Foundation grant CCF-1115256 . Publisher Copyright: {\textcopyright} 2015 Elsevier B.V.",

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AU - Topaloglu, Huseyin

AU - Williamson, David P.

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PY - 2015/9/26

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N2 - In this note we introduce the problem of assortment optimization over time. We have a sequence of time steps and can introduce one new product per time step. Once introduced a product cannot be removed. The goal is to determine which products to introduce so as to maximize revenue over all time steps under some choice model. Given a 1/α-approximation algorithm for the capacitated assortment optimization problem we give a 1/2α-approximation algorithm for this problem.

AB - In this note we introduce the problem of assortment optimization over time. We have a sequence of time steps and can introduce one new product per time step. Once introduced a product cannot be removed. The goal is to determine which products to introduce so as to maximize revenue over all time steps under some choice model. Given a 1/α-approximation algorithm for the capacitated assortment optimization problem we give a 1/2α-approximation algorithm for this problem.

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KW - Choice models

KW - Revenue management

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Assortment optimization over time

Abstract

Keywords

ASJC Scopus subject areas

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