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Metaheuristics With Local Search Techniques For Retail Shelf-Space Optimization, Andrew Lim, Brian Rodrigues, Xingwen Zhang
Metaheuristics With Local Search Techniques For Retail Shelf-Space Optimization, Andrew Lim, Brian Rodrigues, Xingwen Zhang
Research Collection Lee Kong Chian School Of Business
Efficient shelf-space allocation can provide retailers with a competitive edge. While there has been little study on this subject, there is great interest in improving product allocation in the retail industry. This paper examines a practicable linear allocation model for optimizing shelf-space allocation. It extends the model to address other requirements such as product groupings and nonlinear profit functions. Besides providing a network flow solution, we put forward a strategy that combines a strong local search with a metaheuristic approach to space allocation. This strategy is flexible and efficient, as it can address both linear and nonlinear problems of realistic …