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Full-Text Articles in Statistical Models
Demand Forecasting In Wholesale Alcohol Distribution: An Ensemble Approach, Tanvi Arora, Rajat Chandna, Stacy Conant, Bivin Sadler, Robert Slater
Demand Forecasting In Wholesale Alcohol Distribution: An Ensemble Approach, Tanvi Arora, Rajat Chandna, Stacy Conant, Bivin Sadler, Robert Slater
SMU Data Science Review
In this paper, historical data from a wholesale alcoholic beverage distributor was used to forecast sales demand. Demand forecasting is a vital part of the sale and distribution of many goods. Accurate forecasting can be used to optimize inventory, improve cash ow, and enhance customer service. However, demand forecasting is a challenging task due to the many unknowns that can impact sales, such as the weather and the state of the economy. While many studies focus effort on modeling consumer demand and endpoint retail sales, this study focused on demand forecasting from the distributor perspective. An ensemble approach was applied …
Quantitative Model For Setting Manufacturer's Suggested Retail Price, Peter Byrd, Jonathan Knowles, Dmitry Andreev, Jacob Turner, Brian Mente, Laroux Wallace
Quantitative Model For Setting Manufacturer's Suggested Retail Price, Peter Byrd, Jonathan Knowles, Dmitry Andreev, Jacob Turner, Brian Mente, Laroux Wallace
SMU Data Science Review
In this paper, we present a quantitative approach to model the manufacturer’s suggested retail price (MSRP) for children’s doll- houses and establish relationships among key features that contribute most to establishing MSRP. Determination of the MSRP is a critical step in how consumers respond with their wallets when purchasing an item. KidKraft, a global leader in toys and juvenile products, sets MSRP subjectively using product experts. The process is arduous and time consuming requiring the focus of specialized resources and knowledge of the interaction between key attributes and their impact on consumer value. An accurate prediction of MSRP during the …