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Article: Managing Limited Retail Space for Basic Products: Space Sharing vs. Space Dedication
Title | Managing Limited Retail Space for Basic Products: Space Sharing vs. Space Dedication |
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Authors | |
Keywords | Basic products Inventory strategy Retailing Scheduling Shelf-space management |
Issue Date | 2017 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor |
Citation | European Journal of Operational Research, 2017, v. 263, p. 768-781 How to Cite? |
Abstract | In this paper, we study the problem of managing limited retail shelf or storage space for basic products by considering two inventory management strategies: space dedication and space sharing. When space is dedicated to each product, there is more flexibility in planning as different products can be replenished independently. In contrast, when space is shared across different products, there is potential for saving space; however, replenishment has to be coordinated across products and this leads to additional costs due to the lack of flexibility in replenishing each product individually. We model this problem as a non-linear mixed integer program and develop an effective heuristic and an upper bound for each strategy. We introduce three different but consistent criteria to compare each strategy. Through an extensive computational study, we identify the most relevant factors that impact the relative benefit of space sharing over space dedication. In addition, we show that space sharing with an optimal replenishment scheduling program can on average reduce space consumption by 31%. |
Persistent Identifier | http://hdl.handle.net/10722/244427 |
ISSN | 2023 Impact Factor: 6.0 2023 SCImago Journal Rankings: 2.321 |
SSRN | |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Zhang, W | - |
dc.contributor.author | Rajaram, K | - |
dc.date.accessioned | 2017-09-18T01:52:14Z | - |
dc.date.available | 2017-09-18T01:52:14Z | - |
dc.date.issued | 2017 | - |
dc.identifier.citation | European Journal of Operational Research, 2017, v. 263, p. 768-781 | - |
dc.identifier.issn | 0377-2217 | - |
dc.identifier.uri | http://hdl.handle.net/10722/244427 | - |
dc.description.abstract | In this paper, we study the problem of managing limited retail shelf or storage space for basic products by considering two inventory management strategies: space dedication and space sharing. When space is dedicated to each product, there is more flexibility in planning as different products can be replenished independently. In contrast, when space is shared across different products, there is potential for saving space; however, replenishment has to be coordinated across products and this leads to additional costs due to the lack of flexibility in replenishing each product individually. We model this problem as a non-linear mixed integer program and develop an effective heuristic and an upper bound for each strategy. We introduce three different but consistent criteria to compare each strategy. Through an extensive computational study, we identify the most relevant factors that impact the relative benefit of space sharing over space dedication. In addition, we show that space sharing with an optimal replenishment scheduling program can on average reduce space consumption by 31%. | - |
dc.language | eng | - |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ejor | - |
dc.relation.ispartof | European Journal of Operational Research | - |
dc.rights | This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. | - |
dc.subject | Basic products | - |
dc.subject | Inventory strategy | - |
dc.subject | Retailing | - |
dc.subject | Scheduling | - |
dc.subject | Shelf-space management | - |
dc.title | Managing Limited Retail Space for Basic Products: Space Sharing vs. Space Dedication | - |
dc.type | Article | - |
dc.identifier.email | Zhang, W: wzhang15@hku.hk | - |
dc.identifier.authority | Zhang, W=rp02050 | - |
dc.description.nature | postprint | - |
dc.identifier.doi | 10.1016/j.ejor.2017.05.045 | - |
dc.identifier.scopus | eid_2-s2.0-85020479625 | - |
dc.identifier.hkuros | 276478 | - |
dc.identifier.volume | 263 | - |
dc.identifier.spage | 768 | - |
dc.identifier.epage | 781 | - |
dc.identifier.isi | WOS:000407665700003 | - |
dc.publisher.place | Netherlands | - |
dc.identifier.ssrn | 2804068 | - |
dc.identifier.issnl | 0377-2217 | - |