The Integrated Size and Price Optimization Problem

J\"org Rambau; Miriam Kie{\ss}ling; Sascha Kurz

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The Integrated Size and Price Optimization Problem

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arxiv 1401.8142 v1 pith:EDWRJDSS submitted 2014-01-31 math.OC q-fin.GN

Miriam Kie{ss}ling , Sascha Kurz , Jörg Rambau This is my paper · ORCID

classification math.OCq-fin.GN

keywords optimizationbranchesdistributionintegratedispopriceproblemsize

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We present the Integrated Size and Price Optimization Problem (ISPO) for a fashion discounter with many branches. Based on a two-stage stochastic programming model with recourse, we develop an exact algorithm and a production-compliant heuristic that produces small optimality gaps. In a field study we show that a distribution of supply over branches and sizes based on ISPO solutions is significantly better than a one-stage optimization of the distribution ignoring the possibility of optimal pricing.

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