Assortment planning

Thursday, October 4, 2018 - 4:45pm - 5:30pm
Xi Chen (New York University)
In this talk, we study the dynamic assortment planning problem under various popular discrete choice models, including the multinomial-logit (MNL) model, the nested logit model, and a contextual MNL model. For each arriving customer, the seller offers an assortment of substitutable products, and then the customer makes the purchase according to a pre-specified choice model. Since all the utility parameters of customers are unknown, the seller needs to simultaneously learn customers' choice behavior and make dynamic decisions on assortments based on the current knowledge.
Wednesday, October 3, 2018 - 9:45am - 10:30am
Awi Federgruen (Columbia University)
Distribution systems for retail organizations are complex, whether they sell via brick-and mortar stores, online systems or combinations thereof (dual channels). The complexity stems from several sources, in particular:
(a) Retailers like Amazon deal with close to a billion distinct items;
(b) Inventories need to be kept at many locations: hundreds or thousands of stores ( Walmart) and close to a hundred fulfillment centers (Amazon).
(c) Retailers employ multiple sales channels and platforms (Amazon vs Amazon Marketplace)
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