Category Inventory Planning With Service Level Requirements and Dynamic Substitutions
We study a single‐period inventory planning problem for a category of substitutable products. This is an important practical problem facing category managers who have to maintain high service levels for constantly expanding product catalogs. We formulate the problem as a stochastic optimization mode...
Saved in:
| Published in: | Production and operations management Vol. 29; no. 11; pp. 2553 - 2578 |
|---|---|
| Main Authors: | , , |
| Format: | Journal Article |
| Language: | English |
| Published: |
Los Angeles, CA
SAGE Publications
01.11.2020
Wiley Subscription Services, Inc Blackwell Publishers Inc |
| Subjects: | |
| ISSN: | 1059-1478, 1937-5956 |
| Online Access: | Get full text |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Abstract | We study a single‐period inventory planning problem for a category of substitutable products. This is an important practical problem facing category managers who have to maintain high service levels for constantly expanding product catalogs. We formulate the problem as a stochastic optimization model that minimizes the total stocking cost subject to service level requirements, which consist of product‐specific and category‐wide targets for inventory availability (ready rates) through the selling season. Our model accounts for stochastic customer arrivals, captures stockout‐based substitutions, and determines initial stocking quantities jointly for all products. Recognizing the challenges that these aspects pose in solving the problem, we propose an optimization‐based method that estimates the ready rates using a deterministic approximation and discretizes the selling season into a finite number of time intervals. This novel modeling approach permits us to recast the stochastic optimization model as a deterministic mixed integer linear program that can accommodate several common stockout‐based substitution schemes. We characterize the worst‐case behavior of this approach to develop performance guarantees. We also implemented and applied this model to randomly generated numerical instances featuring different types of product differentiation and varying in parameter values. We observe that the approach is robust to changes in problem parameter values and yields solutions very quickly, outperforming an enumeration‐based alternative, a practical heuristic, and an approach based on extant literature. Finally, we applied our approach to data from a re‐seller of Information Technology products. Results illustrate that our approach scales well and has the potential to generate savings in inventory costs. |
|---|---|
| AbstractList | We study a single‐period inventory planning problem for a category of substitutable products. This is an important practical problem facing category managers who have to maintain high service levels for constantly expanding product catalogs. We formulate the problem as a stochastic optimization model that minimizes the total stocking cost subject to service level requirements, which consist of product‐specific and category‐wide targets for inventory availability (ready rates) through the selling season. Our model accounts for stochastic customer arrivals, captures stockout‐based substitutions, and determines initial stocking quantities jointly for all products. Recognizing the challenges that these aspects pose in solving the problem, we propose an optimization‐based method that estimates the ready rates using a deterministic approximation and discretizes the selling season into a finite number of time intervals. This novel modeling approach permits us to recast the stochastic optimization model as a deterministic mixed integer linear program that can accommodate several common stockout‐based substitution schemes. We characterize the worst‐case behavior of this approach to develop performance guarantees. We also implemented and applied this model to randomly generated numerical instances featuring different types of product differentiation and varying in parameter values. We observe that the approach is robust to changes in problem parameter values and yields solutions very quickly, outperforming an enumeration‐based alternative, a practical heuristic, and an approach based on extant literature. Finally, we applied our approach to data from a re‐seller of Information Technology products. Results illustrate that our approach scales well and has the potential to generate savings in inventory costs. |
| Audience | Trade |
| Author | Akçay, Yalçın Li, Yunke Natarajan, Harihara Prasad |
| Author_xml | – sequence: 1 givenname: Yalçın surname: Akçay fullname: Akçay, Yalçın organization: Melbourne Business School, University of Melbourne, 200 Leicester Street, Carlton, Victoria, 3053, Australia – sequence: 2 givenname: Yunke surname: Li fullname: Li, Yunke organization: Department of Management, Miami Herbert Business School, 5250 University Drive, Coral Gables, Florida, 33124, USA – sequence: 3 givenname: Harihara Prasad surname: Natarajan fullname: Natarajan, Harihara Prasad organization: Department of Management, Miami Herbert Business School, 5250 University Drive, Coral Gables, Florida, 33124, USA |
| BookMark | eNp9kF9LwzAUxYMoOKcvfoKCoCB0Jm3SNo8y_w0mE6f4GLLspka6dCbpdN_eziqCiPfl3offOZdz9tC2rS0gdEjwgLRztqwXfkDShOIt1CM8zWPGWbbd3pjxmNC82EV73r9gjPM0wT30OJQBytqto5FdgQ2b666S1hpbRk8mPEdTcCujIBrDCqroHl4b42DRoj6Sdh5drK1cGBVNm5kPJjTB1Nbvox0tKw8HX7uPHq8uH4Y38XhyPRqej2NFKcZxOiOSqlRrYJqlTAOhPNEq04oXcy6BMQmcFFky54xlTCZAW17NZqDybE502kdHne_S1a8N-CBe6sbZ9qVIKCt4yhOetdRxR5WyAmGsqm2A91DKxnshzjNKcJETWrQg7kDlau8daKFMkJtEwUlTCYLFpmWxaVl8ttxKTn9Jls4spFv_DZMOfjMVrP8hxd3kdvqtOek0XpbwE-8P9w_qFJ2W |
| CitedBy_id | crossref_primary_10_1111_poms_13569 crossref_primary_10_1111_poms_13592 crossref_primary_10_1016_j_tre_2021_102335 |
| Cites_doi | 10.1287/mnsc.1080.0871 10.1080/07408170490247304 10.1287/opre.1070.0409 10.1287/mnsc.1060.0580 10.1287/mnsc.32.8.982 10.1016/S0377-2217(01)00021-2 10.1287/opre.1090.0805 10.1111/poms.12536 10.1287/mnsc.34.6.753 10.1287/opre.49.3.334.11210 10.1111/j.1937-5956.2012.01394.x 10.1287/mksc.5.4.275 10.2307/2950501 10.7551/mitpress/2450.001.0001 10.1287/msom.1050.0088 10.1287/mnsc.44.10.1396 10.1016/j.ijpe.2012.10.002 10.1287/opre.2014.1256 10.1111/j.1937-5956.2011.01259.x 10.1287/mnsc.1100.1178 10.1287/opre.48.1.50.12443 10.1201/9781315274508 10.1287/opre.2016.1505 10.1287/opre.47.4.632 10.1111/j.1937-5956.2012.01423.x 10.1287/opre.50.4.720.2855 10.1287/msom.1120.0425 10.1287/opre.2014.1328 10.1287/opre.1080.0541 10.1287/mksc.17.4.406 10.1287/inte.2017.0889 10.2139/ssrn.3567371 10.1287/mnsc.1070.0773 10.1002/1520-6750(199104)38:2<221::AID-NAV3220380208>3.0.CO;2-7 10.1111/j.1937-5956.2010.01191.x 10.1016/S0377-2217(00)00243-5 10.1287/mnsc.45.8.1142 10.1287/mnsc.34.9.1096 10.1287/opre.37.1.104 10.1287/opre.51.2.329.12788 10.1287/mnsc.45.11.1496 10.2139/ssrn.2916110 10.2139/ssrn.3136816 |
| ContentType | Journal Article |
| Copyright | 2020 The Authors 2020 Production and Operations Management Society COPYRIGHT 2020 Wiley Subscription Services, Inc. |
| Copyright_xml | – notice: 2020 The Authors – notice: 2020 Production and Operations Management Society – notice: COPYRIGHT 2020 Wiley Subscription Services, Inc. |
| DBID | AAYXX CITATION |
| DOI | 10.1111/poms.13240 |
| DatabaseName | CrossRef |
| DatabaseTitle | CrossRef |
| DatabaseTitleList | CrossRef |
| DeliveryMethod | fulltext_linktorsrc |
| Discipline | Engineering Business |
| EISSN | 1937-5956 |
| EndPage | 2578 |
| ExternalDocumentID | A641087148 10_1111_poms_13240 POMS13240 10.1111_poms.13240 |
| Genre | article |
| GroupedDBID | .3N .GA .Y3 05W 0R~ 123 1OC 29P 2WC 31~ 33P 3WU 4.4 50Y 50Z 52M 52O 52T 52U 52W 702 7PT 7WY 8-0 8-1 8-3 8-4 8-5 8AO 8FL 8R4 8R5 8V8 930 96U 9M8 A04 AAESR AAGLT AAHHS AANHP AAONW AAOUF AAQXI AASGY AATAA AAXRX AAYCA AAYJJ AAZCK AAZKR ABCUV ABFXH ABJNI ABKLS ABPNF ABPVW ABRHV ABSOO ABUJY ABUNW ABUWG ACAHQ ACBKW ACBWZ ACCFJ ACCZN ACGFO ACGFS ACIFU ACOXC ACPOU ACRPL ACUIR ACXQS ACYXJ ADBBV ADEBD ADEMA ADEOM ADIZJ ADKYN ADMGS ADNMO ADUKL ADXAS ADZMN AEAXR AEEZP AEIGN AEIMD AEMOZ AENEX AEQDE AEUYR AEXNY AFAZI AFBPY AFGKR AFKFF AFKRA AFWVQ AFZJQ AGKLV AGNWV AGQPQ AHDMH AHQJS AIAGR AIURR AIWBW AJAOE AJBDE AKVCP ALAGY ALKDR ALMA_UNASSIGNED_HOLDINGS ALUQN AMBMR AMYDB ARTOV ASPBG ASTYK AVWKF AZBYB AZFZN AZVAB BAFTC BDRZF BENPR BEZIV BFHJK BMXJE BNVMJ BPACV BPHCQ BQESF BROTX BRXPI CAG CCPQU COF D-C D-D DCZOG DPXWK DRFUL DRSSH DU5 DWQXO EBS EJD F00 F01 F21 FEDTE FHBDP FRNLG G-S G.N G50 GODZA GROUPED_ABI_INFORM_RESEARCH H13 HF~ HVGLF HZ~ IAO IEA IOF ITC J8X K1G K60 K6~ LATKE LEEKS LH4 LITHE LOXES LP6 LP7 LUTES LW6 LYRES M0C MK4 MRFUL MRSSH MSFUL MSSSH MXFUL MXSSH N04 N06 N95 NF~ NNB O66 O9- P2P P2W P2Y P4C PALCI PHGZM PHGZT PQBIZ PQBZA PQQKQ PROAC Q.N Q1R Q2X QB0 QRW R.K RIWAO RJQFR ROL RWL RX1 S0X SAUOL SCNPE SFC SUPJJ TAE TH9 U5U UB1 V8K W8V W99 WBKPD WIH WII WLBEL WOHZO WYISQ XV2 ZZTAW ~IA ~WP 1OB 3V. AEUQT AFPWT AIFKG BMKGK EBA EBO EBR EBU EMK GROUPED_ABI_INFORM_COMPLETE M4V RWI VQA XI7 ~8M AAEJI AAMMB AAPII AAYXX ABUAX ACCVC AEFGJ AEYHP AFFHD AGXDD AIDQK AIDYY AIQQE AJGYC AJVBE AMNSR BAAKF CITATION O8X |
| ID | FETCH-LOGICAL-c4400-3b1a4c3ffe5f535fe1492fc6fc98d9ae55ae91862d95565a2e4a4ccbbec76d1f3 |
| IEDL.DBID | DRFUL |
| ISICitedReferencesCount | 3 |
| ISICitedReferencesURI | http://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=Summon&SrcAuth=ProQuest&DestLinkType=CitingArticles&DestApp=WOS_CPL&KeyUT=000555835800001&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D |
| ISSN | 1059-1478 |
| IngestDate | Tue Sep 30 07:19:47 EDT 2025 Wed Nov 26 11:14:29 EST 2025 Sat Nov 29 08:08:21 EST 2025 Tue Nov 18 21:07:16 EST 2025 Wed Jan 22 16:33:08 EST 2025 Tue Jun 17 22:27:59 EDT 2025 |
| IsPeerReviewed | true |
| IsScholarly | true |
| Issue | 11 |
| Keywords | inventory planning substitutable products dynamic substitution mathematical programming |
| Language | English |
| LinkModel | DirectLink |
| MergedId | FETCHMERGED-LOGICAL-c4400-3b1a4c3ffe5f535fe1492fc6fc98d9ae55ae91862d95565a2e4a4ccbbec76d1f3 |
| Notes | ObjectType-Article-1 SourceType-Scholarly Journals-1 ObjectType-Feature-2 content type line 14 |
| ORCID | 0000-0002-7051-669X 0000-0002-6189-4859 0000-0002-8278-8449 |
| PQID | 2458939296 |
| PQPubID | 45096 |
| PageCount | 26 |
| ParticipantIDs | proquest_journals_2458939296 gale_incontextgauss__A641087148 crossref_citationtrail_10_1111_poms_13240 crossref_primary_10_1111_poms_13240 wiley_primary_10_1111_poms_13240_POMS13240 sage_journals_10_1111_poms_13240 |
| PublicationCentury | 2000 |
| PublicationDate | November 2020 |
| PublicationDateYYYYMMDD | 2020-11-01 |
| PublicationDate_xml | – month: 11 year: 2020 text: November 2020 |
| PublicationDecade | 2020 |
| PublicationPlace | Los Angeles, CA |
| PublicationPlace_xml | – name: Los Angeles, CA – name: Muncie |
| PublicationTitle | Production and operations management |
| PublicationYear | 2020 |
| Publisher | SAGE Publications Wiley Subscription Services, Inc Blackwell Publishers Inc |
| Publisher_xml | – name: SAGE Publications – name: Wiley Subscription Services, Inc – name: Blackwell Publishers Inc |
| References | Akçay, Boyacý, Zhang 2013; 22 Anupindi, Dada, Gupta 1998; 17 Netessine, Rudi 2003; 51 Ernst, Kouvelis 1999; 45 McFadden 1986; 5 Pasternack, Drezner 1991; 38 Van Ryzin, Mahajan 1999; 45 Wauthy 1996; 44 Pan, Honhon 2012; 21 Rajaram, Tang 2001; 135 Bernales, Guan, Natarajan, Gimenez, Tajes 2017; 47 Cachon, Terwiesch, Xu 2005; 7 Chen, Krass 2001; 134 Hopp, Xu 2008; 56 Davis, Gallego, Topaloglu 2014; 62 Gaur, Honhon 2006; 52 Nagarajan, Rajagopalan 2008; 54 Tan, Karabatý 2013; 145 Xu, Yao, Zheng 2016; 25 Akçay, Natarajan, Xu 2010; 56 Cooper 2002; 50 Gallego, Ratliff, Shebalov 2014; 63 Honhon, Gaur, Seshadri 2010; 58 Parlar, Goyal 1984; 21 McGillivray, Silver 1978; 16 Baker, Magazine, Nuttle 1986; 32 Kök, Fisher 2007; 55 Xu, Yao, Zheng 2011; 20 Bookbinder, Tan 1988; 34 Basuroy, Nguyen 1998; 44 Bhargava, Choudhary 2008; 54 Rao, Swaminathan, Zhang 2004; 36 Blanchet, Gallego, Goyal 2016; 64 Gerchak, Magazine, Gamble 1988; 34 Mahajan, van Ryzin. 2001; 49 Cohen, Kleindorfer, Lee 1989; 37 Bassok, Anupindi, Akella 1999; 47 Honhon, Seshadri 2013; 15 Smith, Agrawal 2000; 48 Topaloglu 2013; 22 2010; 56 2006; 52 1991; 38 2010; 58 2013; 22 2017; 47 2000; 48 1986; 32 2002; 50 1984; 21 1999; 47 2009 2013; 145 1999; 45 2008 2007 1988; 34 2008; 56 2008; 54 1978; 16 2004 1993 2001; 49 1992 2003 2014; 63 2014; 62 2007; 55 2003; 51 1998; 44 2001; 135 1998; 17 2001; 134 2013; 15 2004; 36 1986; 5 2011; 20 2016; 64 2018 2005; 7 2017 2016 2014 1989; 37 2012; 21 2016; 25 1988 1996; 44 bibr8-poms.13240 bibr19-poms.13240 bibr51-poms.13240 bibr2-poms.13240 bibr29-poms.13240 bibr49-poms.13240 bibr41-poms.13240 bibr39-poms.13240 bibr11-poms.13240 bibr54-poms.13240 bibr31-poms.13240 bibr21-poms.13240 bibr24-poms.13240 bibr34-poms.13240 bibr53-poms.13240 bibr3-poms.13240 bibr14-poms.13240 bibr33-poms.13240 bibr43-poms.13240 bibr23-poms.13240 bibr13-poms.13240 bibr32-poms.13240 Parlar M. (bibr44-poms.13240) 1984; 21 bibr52-poms.13240 bibr42-poms.13240 bibr45-poms.13240 McGillivray A. R. (bibr38-poms.13240) 1978; 16 bibr12-poms.13240 bibr15-poms.13240 bibr25-poms.13240 bibr55-poms.13240 bibr22-poms.13240 Tirole J. (bibr50-poms.13240) 1988 bibr4-poms.13240 bibr9-poms.13240 bibr18-poms.13240 bibr1-poms.13240 bibr48-poms.13240 bibr17-poms.13240 bibr20-poms.13240 bibr30-poms.13240 Axsäter S. (bibr5-poms.13240) 2007 bibr27-poms.13240 bibr7-poms.13240 Nahmias S. (bibr40-poms.13240) 2008 bibr47-poms.13240 bibr37-poms.13240 bibr10-poms.13240 Graves S. C. (bibr28-poms.13240) 1993 bibr26-poms.13240 bibr36-poms.13240 bibr6-poms.13240 Kök A. G. (bibr35-poms.13240) 2009 Chopra S. (bibr16-poms.13240) 2016 bibr46-poms.13240 |
| References_xml | – volume: 32 start-page: 982 issue: 8 year: 1986 end-page: 988 article-title: The effect of commonality on safety stock in a simple inventory model publication-title: Management Sci. – volume: 44 start-page: 345 year: 1996 end-page: 353 article-title: Quality choice in models of vertical differentiation publication-title: J. Ind. Econ. – volume: 25 start-page: 1088 issue: 6 year: 2016 end-page: 1105 article-title: Optimal policies for a two‐product inventory system under a flexible substitution scheme publication-title: Prod. Oper. Manag. – volume: 21 start-page: 1 issue: 1 year: 1984 end-page: 15 article-title: Optimal ordering decisions for two substitutable products with stochastic demands publication-title: Opsearch – volume: 17 start-page: 406 issue: 4 year: 1998 end-page: 423 article-title: Estimation of consumer demand with stock‐out based substitution: An application to vending machine products publication-title: Market. Sci. – volume: 7 start-page: 330 issue: 4 year: 2005 end-page: 346 article-title: Retail assortment planning in the presence of consumer search publication-title: Manuf. Ser. Oper. Manag. – volume: 44 start-page: 1396 issue: 10 year: 1998 end-page: 1408 article-title: Multinomial logit market share models: Equilibrium characteristics and strategic implications publication-title: Management Sci. – volume: 62 start-page: 250 issue: 2 year: 2014 end-page: 273 article-title: Assortment optimization under variants of the nested logit model publication-title: Oper. Res. – volume: 34 start-page: 1096 issue: 9 year: 1988 end-page: 1108 article-title: Strategies for the probabilistic lot‐sizing problem with service‐level constraints publication-title: Management Sci. – volume: 37 start-page: 104 issue: 1 year: 1989 end-page: 117 article-title: Near‐optimal service constrained stocking policies for spare parts publication-title: Oper. Res. – volume: 36 start-page: 59 issue: 1 year: 2004 end-page: 71 article-title: Multi‐product inventory planning with downward substitution, stochastic demand and setup costs publication-title: IIE Trans. – volume: 54 start-page: 1453 issue: 8 year: 2008 end-page: 1466 article-title: Inventory models for substitutable products: Optimal policies and heuristics publication-title: Management Sci. – volume: 64 start-page: 886 issue: 4 year: 2016 end-page: 905 article-title: A markov chain approximation to choice modeling publication-title: Oper. Res. – volume: 16 start-page: 47 issue: 1 year: 1978 end-page: 63 article-title: Some concepts for inventory control under substitutable demand publication-title: INFOR – volume: 34 start-page: 753 issue: 6 year: 1988 end-page: 760 article-title: Component commonality with service level requirements publication-title: Management Sci. – volume: 45 start-page: 1142 issue: 8 year: 1999 end-page: 1155 article-title: The effects of selling packaged goods on inventory decisions publication-title: Management Sci. – volume: 63 start-page: 212 issue: 1 year: 2014 end-page: 232 article-title: A general attraction model and sales‐based linear program for network revenue management under customer choice publication-title: Oper. Res. – volume: 55 start-page: 1001 issue: 6 year: 2007 end-page: 1021 article-title: Demand estimation and assortment optimization under substitution: Methodology and application publication-title: Oper. Res. – volume: 145 start-page: 78 issue: 1 year: 2013 end-page: 87 article-title: Retail inventory management with stock‐out based dynamic demand substitution publication-title: Int. J. Prod. Econ. – volume: 22 start-page: 777 issue: 4 year: 2013 end-page: 791 article-title: Selling with money‐back guarantees: The impact on prices, quantities, and retail profitability publication-title: Prod. Oper. Manag. – volume: 134 start-page: 120 issue: 1 year: 2001 end-page: 140 article-title: Inventory models with minimal service level constraints publication-title: Eur. J. Oper. Res. – volume: 20 start-page: 727 issue: 5 year: 2011 end-page: 736 article-title: Optimal control of replenishment and substitution in an inventory system with nonstationary batch demand publication-title: Prod. Oper. Manag. – volume: 49 start-page: 334 issue: 3 year: 2001 end-page: 351 article-title: Stocking retail assortments under dynamic consumer substitution publication-title: Oper. Res. – volume: 5 start-page: 275 issue: 4 year: 1986 end-page: 297 article-title: The choice theory approach to market research publication-title: Market. Sci. – volume: 51 start-page: 329 issue: 2 year: 2003 end-page: 335 article-title: Centralized and competitive inventory models with demand substitution publication-title: Oper. Res. – volume: 15 start-page: 378 issue: 3 year: 2013 end-page: 386 article-title: Fixed vs. random proportions demand models for the assortment planning problem under stockout‐based substitution publication-title: Manuf. Ser. Oper. Manag. – volume: 38 start-page: 221 issue: 2 year: 1991 end-page: 240 article-title: Optimal inventory policies for substitutable commodities with stochastic demand publication-title: Nav. Res. Logist. – volume: 135 start-page: 582 issue: 3 year: 2001 end-page: 601 article-title: The impact of product substitution on retail merchandising publication-title: Eur. J. Oper. Res. – volume: 48 start-page: 50 issue: 1 year: 2000 end-page: 64 article-title: Management of multi‐item retail inventory systems with demand substitution publication-title: Oper. Res. – volume: 50 start-page: 720 issue: 4 year: 2002 end-page: 727 article-title: Asymptotic behavior of an allocation policy for revenue management publication-title: Oper. Res. – volume: 56 start-page: 1345 issue: 8 year: 2010 end-page: 1361 article-title: Joint dynamic pricing of multiple perishable products under consumer choice publication-title: Management Sci. – volume: 47 start-page: 632 issue: 4 year: 1999 end-page: 642 article-title: Single‐period multiproduct inventory models with substitution publication-title: Oper. Res. – volume: 22 start-page: 1182 issue: 5 year: 2013 end-page: 1199 article-title: Joint stocking and product offer decisions under the multinomial logit model publication-title: Prod. Oper. Manag. – volume: 21 start-page: 253 issue: 2 year: 2012 end-page: 275 article-title: Assortment planning for vertically differentiated products publication-title: Prod. Oper. Manag. – volume: 47 start-page: 230 issue: 3 year: 2017 end-page: 243 article-title: Less is more: Harnessing product substitution information to rationalize skus at intcomex publication-title: Interfaces – volume: 52 start-page: 1528 issue: 10 year: 2006 end-page: 1543 article-title: Assortment planning and inventory decisions under a locational choice model publication-title: Management Sci. – volume: 58 start-page: 1364 issue: 5 year: 2010 end-page: 1379 article-title: Assortment planning and inventory decisions under stockout‐based substitution publication-title: Oper. Res. – volume: 56 start-page: 630 issue: 3 year: 2008 end-page: 645 article-title: A static approximation for dynamic demand substitution with applications in a competitive market publication-title: Oper. Res. – volume: 45 start-page: 1496 issue: 11 year: 1999 end-page: 1509 article-title: On the relationship between inventory costs and variety benefits in retail assortments publication-title: Management Sci. – volume: 54 start-page: 1029 issue: 5 year: 2008 end-page: 1035 article-title: Research note‐when is versioning optimal for information goods publication-title: Management Sci. – volume: 37 start-page: 104 issue: 1 year: 1989 end-page: 117 article-title: Near‐optimal service constrained stocking policies for spare parts publication-title: Oper. Res. – year: 2009 – volume: 25 start-page: 1088 issue: 6 year: 2016 end-page: 1105 article-title: Optimal policies for a two‐product inventory system under a flexible substitution scheme publication-title: Prod. Oper. Manag. – volume: 16 start-page: 47 issue: 1 year: 1978 end-page: 63 article-title: Some concepts for inventory control under substitutable demand publication-title: INFOR – volume: 5 start-page: 275 issue: 4 year: 1986 end-page: 297 article-title: The choice theory approach to market research publication-title: Market. Sci. – volume: 7 start-page: 330 issue: 4 year: 2005 end-page: 346 article-title: Retail assortment planning in the presence of consumer search publication-title: Manuf. Ser. Oper. Manag. – volume: 47 start-page: 230 issue: 3 year: 2017 end-page: 243 article-title: Less is more: Harnessing product substitution information to rationalize skus at intcomex publication-title: Interfaces – volume: 55 start-page: 1001 issue: 6 year: 2007 end-page: 1021 article-title: Demand estimation and assortment optimization under substitution: Methodology and application publication-title: Oper. Res. – volume: 63 start-page: 212 issue: 1 year: 2014 end-page: 232 article-title: A general attraction model and sales‐based linear program for network revenue management under customer choice publication-title: Oper. Res. – volume: 135 start-page: 582 issue: 3 year: 2001 end-page: 601 article-title: The impact of product substitution on retail merchandising publication-title: Eur. J. Oper. Res. – year: 2018 – year: 2014 – volume: 20 start-page: 727 issue: 5 year: 2011 end-page: 736 article-title: Optimal control of replenishment and substitution in an inventory system with nonstationary batch demand publication-title: Prod. Oper. Manag. – volume: 134 start-page: 120 issue: 1 year: 2001 end-page: 140 article-title: Inventory models with minimal service level constraints publication-title: Eur. J. Oper. Res. – volume: 22 start-page: 777 issue: 4 year: 2013 end-page: 791 article-title: Selling with money‐back guarantees: The impact on prices, quantities, and retail profitability publication-title: Prod. Oper. Manag. – volume: 34 start-page: 1096 issue: 9 year: 1988 end-page: 1108 article-title: Strategies for the probabilistic lot‐sizing problem with service‐level constraints publication-title: Management Sci. – year: 2008 – volume: 64 start-page: 886 issue: 4 year: 2016 end-page: 905 article-title: A markov chain approximation to choice modeling publication-title: Oper. Res. – year: 2004 – volume: 17 start-page: 406 issue: 4 year: 1998 end-page: 423 article-title: Estimation of consumer demand with stock‐out based substitution: An application to vending machine products publication-title: Market. Sci. – volume: 54 start-page: 1453 issue: 8 year: 2008 end-page: 1466 article-title: Inventory models for substitutable products: Optimal policies and heuristics publication-title: Management Sci. – volume: 21 start-page: 253 issue: 2 year: 2012 end-page: 275 article-title: Assortment planning for vertically differentiated products publication-title: Prod. Oper. Manag. – year: 1993 – volume: 50 start-page: 720 issue: 4 year: 2002 end-page: 727 article-title: Asymptotic behavior of an allocation policy for revenue management publication-title: Oper. Res. – start-page: 99 year: 2009 end-page: 153 – volume: 44 start-page: 1396 issue: 10 year: 1998 end-page: 1408 article-title: Multinomial logit market share models: Equilibrium characteristics and strategic implications publication-title: Management Sci. – volume: 34 start-page: 753 issue: 6 year: 1988 end-page: 760 article-title: Component commonality with service level requirements publication-title: Management Sci. – volume: 38 start-page: 221 issue: 2 year: 1991 end-page: 240 article-title: Optimal inventory policies for substitutable commodities with stochastic demand publication-title: Nav. Res. Logist. – year: 2007 – year: 2003 – volume: 32 start-page: 982 issue: 8 year: 1986 end-page: 988 article-title: The effect of commonality on safety stock in a simple inventory model publication-title: Management Sci. – volume: 36 start-page: 59 issue: 1 year: 2004 end-page: 71 article-title: Multi‐product inventory planning with downward substitution, stochastic demand and setup costs publication-title: IIE Trans. – volume: 47 start-page: 632 issue: 4 year: 1999 end-page: 642 article-title: Single‐period multiproduct inventory models with substitution publication-title: Oper. Res. – volume: 54 start-page: 1029 issue: 5 year: 2008 end-page: 1035 article-title: Research note‐when is versioning optimal for information goods publication-title: Management Sci. – year: 2016 – year: 1992 – volume: 62 start-page: 250 issue: 2 year: 2014 end-page: 273 article-title: Assortment optimization under variants of the nested logit model publication-title: Oper. Res. – volume: 44 start-page: 345 year: 1996 end-page: 353 article-title: Quality choice in models of vertical differentiation publication-title: J. Ind. Econ. – volume: 51 start-page: 329 issue: 2 year: 2003 end-page: 335 article-title: Centralized and competitive inventory models with demand substitution publication-title: Oper. Res. – volume: 58 start-page: 1364 issue: 5 year: 2010 end-page: 1379 article-title: Assortment planning and inventory decisions under stockout‐based substitution publication-title: Oper. Res. – volume: 22 start-page: 1182 issue: 5 year: 2013 end-page: 1199 article-title: Joint stocking and product offer decisions under the multinomial logit model publication-title: Prod. Oper. Manag. – year: 1988 – volume: 45 start-page: 1142 issue: 8 year: 1999 end-page: 1155 article-title: The effects of selling packaged goods on inventory decisions publication-title: Management Sci. – volume: 49 start-page: 334 issue: 3 year: 2001 end-page: 351 article-title: Stocking retail assortments under dynamic consumer substitution publication-title: Oper. Res. – volume: 21 start-page: 1 issue: 1 year: 1984 end-page: 15 article-title: Optimal ordering decisions for two substitutable products with stochastic demands publication-title: Opsearch – volume: 52 start-page: 1528 issue: 10 year: 2006 end-page: 1543 article-title: Assortment planning and inventory decisions under a locational choice model publication-title: Management Sci. – volume: 48 start-page: 50 issue: 1 year: 2000 end-page: 64 article-title: Management of multi‐item retail inventory systems with demand substitution publication-title: Oper. Res. – volume: 56 start-page: 630 issue: 3 year: 2008 end-page: 645 article-title: A static approximation for dynamic demand substitution with applications in a competitive market publication-title: Oper. Res. – year: 2017 – volume: 45 start-page: 1496 issue: 11 year: 1999 end-page: 1509 article-title: On the relationship between inventory costs and variety benefits in retail assortments publication-title: Management Sci. – volume: 56 start-page: 1345 issue: 8 year: 2010 end-page: 1361 article-title: Joint dynamic pricing of multiple perishable products under consumer choice publication-title: Management Sci. – volume: 145 start-page: 78 issue: 1 year: 2013 end-page: 87 article-title: Retail inventory management with stock‐out based dynamic demand substitution publication-title: Int. J. Prod. Econ. – volume: 15 start-page: 378 issue: 3 year: 2013 end-page: 386 article-title: Fixed vs. random proportions demand models for the assortment planning problem under stockout‐based substitution publication-title: Manuf. Ser. Oper. Manag. – ident: bibr39-poms.13240 doi: 10.1287/mnsc.1080.0871 – volume-title: The Theory of Industrial Organization year: 1988 ident: bibr50-poms.13240 – volume-title: Inventory Control year: 2007 ident: bibr5-poms.13240 – ident: bibr47-poms.13240 doi: 10.1080/07408170490247304 – volume-title: Logistics of Production and Inventory year: 1993 ident: bibr28-poms.13240 – ident: bibr34-poms.13240 doi: 10.1287/opre.1070.0409 – ident: bibr25-poms.13240 doi: 10.1287/mnsc.1060.0580 – ident: bibr6-poms.13240 doi: 10.1287/mnsc.32.8.982 – ident: bibr46-poms.13240 doi: 10.1016/S0377-2217(01)00021-2 – ident: bibr30-poms.13240 doi: 10.1287/opre.1090.0805 – ident: bibr55-poms.13240 doi: 10.1111/poms.12536 – volume: 16 start-page: 47 issue: 1 year: 1978 ident: bibr38-poms.13240 publication-title: INFOR – ident: bibr26-poms.13240 doi: 10.1287/mnsc.34.6.753 – ident: bibr36-poms.13240 doi: 10.1287/opre.49.3.334.11210 – ident: bibr1-poms.13240 doi: 10.1111/j.1937-5956.2012.01394.x – ident: bibr20-poms.13240 – ident: bibr37-poms.13240 doi: 10.1287/mksc.5.4.275 – ident: bibr53-poms.13240 doi: 10.2307/2950501 – ident: bibr3-poms.13240 doi: 10.7551/mitpress/2450.001.0001 – ident: bibr14-poms.13240 doi: 10.1287/msom.1050.0088 – ident: bibr8-poms.13240 doi: 10.1287/mnsc.44.10.1396 – ident: bibr49-poms.13240 doi: 10.1016/j.ijpe.2012.10.002 – ident: bibr19-poms.13240 doi: 10.1287/opre.2014.1256 – ident: bibr43-poms.13240 doi: 10.1111/j.1937-5956.2011.01259.x – volume-title: Production and Operations Analysis year: 2008 ident: bibr40-poms.13240 – ident: bibr2-poms.13240 doi: 10.1287/mnsc.1100.1178 – ident: bibr48-poms.13240 doi: 10.1287/opre.48.1.50.12443 – ident: bibr29-poms.13240 doi: 10.1201/9781315274508 – ident: bibr12-poms.13240 doi: 10.1287/opre.2016.1505 – ident: bibr7-poms.13240 doi: 10.1287/opre.47.4.632 – ident: bibr51-poms.13240 doi: 10.1111/j.1937-5956.2012.01423.x – ident: bibr27-poms.13240 – ident: bibr18-poms.13240 doi: 10.1287/opre.50.4.720.2855 – ident: bibr31-poms.13240 doi: 10.1287/msom.1120.0425 – ident: bibr24-poms.13240 doi: 10.1287/opre.2014.1328 – ident: bibr32-poms.13240 doi: 10.1287/opre.1080.0541 – ident: bibr4-poms.13240 doi: 10.1287/mksc.17.4.406 – ident: bibr10-poms.13240 doi: 10.1287/inte.2017.0889 – ident: bibr23-poms.13240 doi: 10.2139/ssrn.3567371 – ident: bibr11-poms.13240 doi: 10.1287/mnsc.1070.0773 – start-page: 99 volume-title: Retail Supply Chain Management year: 2009 ident: bibr35-poms.13240 – ident: bibr45-poms.13240 doi: 10.1002/1520-6750(199104)38:2<221::AID-NAV3220380208>3.0.CO;2-7 – ident: bibr54-poms.13240 doi: 10.1111/j.1937-5956.2010.01191.x – ident: bibr15-poms.13240 doi: 10.1016/S0377-2217(00)00243-5 – ident: bibr21-poms.13240 doi: 10.1287/mnsc.45.8.1142 – ident: bibr33-poms.13240 – volume-title: Supply Chain Management: Strategy, Planning, and Operation year: 2016 ident: bibr16-poms.13240 – volume: 21 start-page: 1 issue: 1 year: 1984 ident: bibr44-poms.13240 publication-title: Opsearch – ident: bibr13-poms.13240 doi: 10.1287/mnsc.34.9.1096 – ident: bibr17-poms.13240 doi: 10.1287/opre.37.1.104 – ident: bibr41-poms.13240 doi: 10.1287/opre.51.2.329.12788 – ident: bibr52-poms.13240 doi: 10.1287/mnsc.45.11.1496 – ident: bibr22-poms.13240 – ident: bibr42-poms.13240 doi: 10.2139/ssrn.2916110 – ident: bibr9-poms.13240 doi: 10.2139/ssrn.3136816 |
| SSID | ssj0007320 |
| Score | 2.310378 |
| Snippet | We study a single‐period inventory planning problem for a category of substitutable products. This is an important practical problem facing category managers... |
| SourceID | proquest gale crossref wiley sage |
| SourceType | Aggregation Database Enrichment Source Index Database Publisher |
| StartPage | 2553 |
| SubjectTerms | dynamic substitution inventory planning mathematical programming Optimization Product differentiation substitutable products |
| Title | Category Inventory Planning With Service Level Requirements and Dynamic Substitutions |
| URI | https://journals.sagepub.com/doi/full/10.1111/poms.13240 https://onlinelibrary.wiley.com/doi/abs/10.1111%2Fpoms.13240 https://www.proquest.com/docview/2458939296 |
| Volume | 29 |
| WOSCitedRecordID | wos000555835800001&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D |
| hasFullText | 1 |
| inHoldings | 1 |
| isFullTextHit | |
| isPrint | |
| journalDatabaseRights | – providerCode: PRVWIB databaseName: Wiley Online Library Full Collection 2020 customDbUrl: eissn: 1937-5956 dateEnd: 99991231 omitProxy: false ssIdentifier: ssj0007320 issn: 1059-1478 databaseCode: DRFUL dateStart: 19970101 isFulltext: true titleUrlDefault: https://onlinelibrary.wiley.com providerName: Wiley-Blackwell |
| link | http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwpV3daxQxEB_qVUQfrNaKp60G9EVhyyWb7G7Al9J6VLh-UD3sW8hnLeheub0K_vdmsrvXVopQfAvs7G7IfGQm_PIbgHcjY4RhBctMKUTGfdAxDlqeycqGMhoMdTRdFJ6Uh4fV6ak8XoGP_V2Ylh9ieeCGnpHiNTq4Ns01J7-Y_Wy2KfLJ3YNVFg2XD2B172Q8nSwjcZmzlo1AyIzysuroSRHJc_X2jQ3p77Dc4btuZq5p6xmv_d-kn8DjLuUkO62NPIUVX6_Dgx7xvg6PrnESPoPpLnJHzOa_yeeER8dR39mIfDtffCddeCETxBuRE49Y4nTI2BBdO7LX9rgnGJISDgENewOm409fd_ezrvdCZnl06yw3VHObh-BFELkIPlZSLNgiWFk5qb0Q2ksayyEnRcwJNfM8ylsTTaIsHA35cxjUs9q_ABKTGB3ip2JyGLiR1JQl5iHMcRncyLkhvO8VoGxHTI79MX6ovkDBVVNp1Ybwdil70dJx3Cr1BvWokN-iRgDNmb5sGqV2Ck5HsULk1RA2exWrzmkbxbiI2VvMF4shEFT71aPb_vEhKfof01DHRwdf0ujlXYRfwUOGRX268LgJg8X80m_Bfftrcd7MX3c2_gfsI_-g |
| linkProvider | Wiley-Blackwell |
| linkToHtml | http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwpV3dS9xAEB_sWWr7UFureNXWhfalhZTbZDfJPor2UBpPsR71bUn2QwXNyeUs9L_vzmZzfiBC6dtCJsmy87Ezy29_A_B5UFW8itM4qjLOI2Zs6eKgYpHIlc2cwVBN_UXhIhuN8tNTcRSwOXgXpuWHmB-4oWf4eI0OjgfSd7z8enLVfKNIKPcMFpmzI96Dxd3j4biYh-IsiVs6Ai4iyrI88JMilOf27Xs70sO4HABe91NXv_cMl_9z1m_gdUg6yXZrJW9hwdQr8KLDvK_AqzushO9gvIPsEZPpH7LvEek46nobkV8Xs3MSAgwpEHFEjg2iif0xY0PKWpPdtss9waDkkQho2qswHn4_2dmLQveFSDHn2FFS0ZKpxFrDLU-4Na6Wiq1KrRK5FqXhvDSCuoJIC-6ywjI2zMmryhlFlmpqkzXo1ZParANxaUxp3adcemhZJWiVZZiJxJoJqwda9-FLpwGpAjU5dsi4lF2Jgqsm_ar14dNc9rol5HhUagsVKZHhokYIzVl50zRSbqeMDlyNyPI-bHY6lsFtGxkz7vI3lzGmfSCo99tHj_3jq9f0E9OQR4cHP_3o_b8Ib8HS3slBIYv90Y8NeBljie-vP25Cbza9MR_gufo9u2imH4PB_wU1CAOf |
| linkToPdf | http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwpV1ba9swFD6sF0r3sPWy0WzdKtheWnCJbMm2HkuzsLI0C11D-yZsXbZC64Q4HezfT0eW03aUQtmbwMe20LnoHPHpOwCfu2XJyziNozLjPGLGFi4OKhaJXNnMGQzV1F8UHmTDYX55KUYBm4N3YRp-iMWBG3qGj9fo4Gaq7T0vn05u6kOKhHJLsMK4SJ1frvTO-uPBIhRnSdzQEXARUZblgZ8UoTx3bz_Ykf6NywHg9TB19XtP__V_znoDXoWkkxw1VrIJL0y1BWst5n0LXt5jJdyG8TGyR0xmf8iJR6TjqO1tRC6u5r9ICDBkgIgjcmYQTeyPGWtSVJr0mi73BIOSRyKgab-Bcf_L-fHXKHRfiBRzjh0lJS2YSqw13PKEW-Nqqdiq1CqRa1EYzgsjqCuItOAuKyxiw5y8Kp1RZKmmNnkLy9WkMjtAXBpTWPcplx5aVgpaZhlmIrFmwuqu1h3YbzUgVaAmxw4Z17ItUXDVpF-1DnxayE4bQo5HpfZQkRIZLiqE0PwsbutayqOU0a6rEVnegd1WxzK4bS1jxl3-5jLGtAME9X736LF_HHhNPzENOfp--sOP3j1HeA_WRr2-HJwMv72H9RgrfH_7cReW57Nb8wFW1e_5VT37GOz9L7usAxo |
| openUrl | ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Category+Inventory+Planning+With+Service+Level+Requirements+and+Dynamic+Substitutions&rft.jtitle=Production+and+operations+management&rft.au=Ak%C3%A7ay%2C+Yal%C3%A7%C4%B1n&rft.au=Li%2C+Yunke&rft.au=Harihara+Prasad+Natarajan&rft.date=2020-11-01&rft.pub=Blackwell+Publishers+Inc&rft.issn=1059-1478&rft.eissn=1937-5956&rft.volume=29&rft.issue=11&rft.spage=2553&rft.epage=2578&rft_id=info:doi/10.1111%2Fpoms.13240&rft.externalDBID=HAS_PDF_LINK |
| thumbnail_l | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/lc.gif&issn=1059-1478&client=summon |
| thumbnail_m | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/mc.gif&issn=1059-1478&client=summon |
| thumbnail_s | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/sc.gif&issn=1059-1478&client=summon |