Category and Inventory Management
Published Online: 15 FEB 2011
Copyright © 2010 John Wiley & Sons, Inc. All rights reserved.
Wiley Encyclopedia of Operations Research and Management Science
How to Cite
Alan, Y. and Gaur, V. 2011. Category and Inventory Management. Wiley Encyclopedia of Operations Research and Management Science. .
- Published Online: 15 FEB 2011
Category and inventory management in retailing involves many novel and challenging aspects, including shelf space allocation, effect of inventory on stimulating demand, retail competition, substitution, and transshipment. Suitably managing these aspects has required new modeling advancements in the operations research and management science literature with the potential for a large improvement in the profitability of retailers. In this introductory article, we describe the main characteristics of these models, focusing on the principles involved, the insights from optimization, and techniques or heuristics used in practice.
- inventory management;
- retail operations;
- space allocation;
- space elasticity;