Title:

A System for Filling Store Displays: Pitting a Single Model against a Set of Demand Forecasting Models

Group publication title:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Title in english:

System zapełnienia ekspozycji sklepowych: pojedynczy model a zespół modeli prognozowania popytu

Creator:

Myna, Artur ; Myna, Jacek

Subject and Keywords:

Extreme Gradient Boosting ; logistic regression ; random forests ; regresja logistyczna ; las losowy

Description:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics; 2023; vol. 67, nr 2, s. 96-106

Abstrakt:

The aim of the paper was to develop the concept of retail display space allocation as a system and to assess the quality of very slow-moving products demand forecasting models (that have not yet been used by retail companies in Poland) as its key subsystem. Forecasts were made using the example of a clothing company. The quality of these models was assessed using the Weighted Mean Absolute Percentage Error. The first step was to build the individual models. Later, the authors built separate models for brick-and-mortar and online stores as well as brands, creating a set of six models. The findings show that the classification approach for very slow movers provides as precise results as the regression approach. No single model or set of models (built with a particular machine learning method) could be identified that made the best demand forecasts for brick-and-mortar stores, as statistical tests generally did not confirm the significance of the differences between the median forecasts.

Publisher:

Publishing House of Wroclaw University of Economics and Business

Place of publication:

Wroclaw

Date:

2023

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/pn.2023.2.09

Language:

eng

Relation:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu = Research Papers of Wrocław University of Economics; 2023; vol. 67, nr 2

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-SA 4.0

Location:

Uniwersytet Ekonomiczny we Wrocławiu