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Category and Inventory Management

  1. Yasin Alan,
  2. Vishal Gaur

Published Online: 15 FEB 2011

DOI: 10.1002/9780470400531.eorms0188

Wiley Encyclopedia of Operations Research and Management Science

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. .

Author Information

  1. Cornell University, Johnson Graduate School of Management, Ithaca, New York

Publication History

  1. Published Online: 15 FEB 2011

Abstract

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.

Keywords:

  • inventory management;
  • retail operations;
  • space allocation;
  • space elasticity;
  • substitution;
  • transshipment;
  • competition