search query: @author Achabal, D. D. / total: 3
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| Author: | Smith, S. A. Achabal, D. D. |
| Title: | Clearance pricing and inventory policies for retail chains |
| Journal: | Management Science
1998 : MAR, VOL. 44:3, p. 285-300 |
| Index terms: | MARKETING RETAILING INVENTORY CONTROL PRICING |
| Language: | eng |
| Abstract: | Clearance pricing and end-of-season inventory management are important and challenging problems in retailing. Sales rates depend on price, seasonal effects, and the remaining assortment of items available to customers. There is little time to react to observed sales, and pricing errors result in either loss of potential revenue or excess inventory to be liquidated. Optimal clearance prices and inventory management policies that take into account the impact reduced assortment and seasonal changes on sales rates are developed. Versions of these polices have been tested and implemented at three major retail chains and these applications are discussed and summarized. |
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