Dynamics of Consumers' Dissatisfaction Due to Stock-Outs PDF Download
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Author: Shelby Koos
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
In this paper, we quantify the effects that product stock-outs led consumer dissatisfactions have on consumer behavior. The study yields a practical solution that retailers could use to determine how a representative consumer is likely to respond to a stock-out situation and hence be proactive in relationship management. We also determine backorder costs that captures both the short term and long term effects of stock-outs and helps retailers in assortment planning. We use the concept of dissatisfaction and the theory of dissatisfaction dynamics to link past temporal patterns in stock-outs to the current dissatisfaction levels and its effects of consumer choice (substitution, postponement, and abandonment). The richness in consumer behavior and the variability in the dissatisfaction levels allow us to: (a) Confirm the existence of a nonlinear relationship between dissatisfaction and consumer behavior and even characterize it as an asymmetric S-shape; and (b) Develop realistic estimates of the backorder costs as a weighted sum of the probabilities of various consumer actions times the costs associated with each action.
Author: Shelby Koos
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
In this paper, we quantify the effects that product stock-outs led consumer dissatisfactions have on consumer behavior. The study yields a practical solution that retailers could use to determine how a representative consumer is likely to respond to a stock-out situation and hence be proactive in relationship management. We also determine backorder costs that captures both the short term and long term effects of stock-outs and helps retailers in assortment planning. We use the concept of dissatisfaction and the theory of dissatisfaction dynamics to link past temporal patterns in stock-outs to the current dissatisfaction levels and its effects of consumer choice (substitution, postponement, and abandonment). The richness in consumer behavior and the variability in the dissatisfaction levels allow us to: (a) Confirm the existence of a nonlinear relationship between dissatisfaction and consumer behavior and even characterize it as an asymmetric S-shape; and (b) Develop realistic estimates of the backorder costs as a weighted sum of the probabilities of various consumer actions times the costs associated with each action.
Author: José Machado
Publisher: Springer Nature
ISBN: 3030791653
Category : Technology & Engineering
Languages : en
Pages : 486
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Book Description
This book covers a variety of topics in the field of mechanical engineering, with a special focus on methods and technologies for modeling, simulation, and design of mechanical systems. Based on a set of papers presented at the 1st International Conference “Innovation in Engineering”, ICIE, held in Guimarães, Portugal, on June 28–30, 2021, it focuses on innovation in mechanical engineering, spanning from engineering design and testing of medical devices, evaluation of new materials and composites for different industrial applications, fatigue and stress analysis of mechanical structures, and application of new tools such as 3D printing, CAE 3D models, and decision support systems. This book, which belongs to a three-volume set, provides engineering researchers and professionals with extensive and timely information on new technologies and developments in the field of mechanical engineering and materials.
Author: Dr.Vinit M.Mistri
Publisher: Inkbound Publishers
ISBN: 8197058199
Category : Business & Economics
Languages : en
Pages : 428
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Book Description
Build resilience in your supply chain with strategies to adapt to dynamic markets. This book covers essential principles and practices for maintaining supply chain robustness and flexibility in the face of changing market conditions.
Author: C. Lynn Northrup
Publisher: J. Ross Publishing
ISBN: 9781932159226
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
This easy to understand reference articulates the best attributes of Lean Manufacturing, Six Sigma, Theory of Constraints, Balanced Scorecard, Activity Based Management and other world class management philosophies in a single text. It provides simplified applications of Balanced Scorecards and Activity Based Management as tools and enablers for use with Throughput Accounting and illustrates a new business, accounting and reporting model utilizing the components of Throughput Accounting for application with Six Sigma and Lean Manufacturing programs. It includes the metrics, decision-making tools and tips for improving profitability and creating sustained value and much more. C. Lynn Northrup, has over 40 year of experience as a financial executive, CPA, and consultant.
Author: Sahab Sabri
Publisher:
ISBN:
Category : Computers
Languages : en
Pages : 545
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Book Description
Artificial intelligence (AI) stands at a pivotal crossroads, heralding advancements that promise to reshape societies and economies in profound ways. At the heart of this technological evolution lies the concept of superintelligence—a theoretical state where AI surpasses human intelligence across all domains. In ‘Superintelligence: AI Risks and Benefits’, this eBook offers a comprehensive exploration of this groundbreaking frontier, diving into its potential, risks, and the multifaceted discourse surrounding its development. With insights from leading experts in AI ethics, governance, and research, this eBook delves into the intricate details of superintelligence. Readers will discover an in-depth analysis of its definitions, the transformative benefits it could bring, and the ethical considerations that come with it. The book addresses the profound challenges and regulatory hurdles associated with managing such powerful technology while emphasizing the importance of responsible development. Through a multidisciplinary approach, ‘Superintelligence: AI Risks and Benefits’ brings together perspectives from AI researchers, philosophers, ethicists, policymakers, and global stakeholders. The discussions highlight both the remarkable possibilities that superintelligence might unlock—such as accelerated scientific breakthroughs and solutions to global issues—as well as the significant risks, including ethical dilemmas, societal disruptions, and existential threats. The eBook underscores the critical role of ethical frameworks, safety protocols, and international collaboration in shaping a future where AI enhances human well-being while mitigating potential harms. The United Nations’ perspective on AI’s role in advancing sustainable development goals further contextualizes the urgency of addressing AI's societal impacts and ensuring its equitable benefits. Join us on this enlightening journey into the realm of superintelligence, where we embrace the opportunities it presents and remain vigilant to the challenges ahead. May this eBook serve as a beacon for informed decision-making and a catalyst for meaningful discussions in the evolving landscape of artificial intelligence.
Author: Cybellium
Publisher: Cybellium
ISBN: 1836798520
Category : Computers
Languages : en
Pages : 229
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Book Description
Welcome to the forefront of knowledge with Cybellium, your trusted partner in mastering the cutting-edge fields of IT, Artificial Intelligence, Cyber Security, Business, Economics and Science. Designed for professionals, students, and enthusiasts alike, our comprehensive books empower you to stay ahead in a rapidly evolving digital world. * Expert Insights: Our books provide deep, actionable insights that bridge the gap between theory and practical application. * Up-to-Date Content: Stay current with the latest advancements, trends, and best practices in IT, Al, Cybersecurity, Business, Economics and Science. Each guide is regularly updated to reflect the newest developments and challenges. * Comprehensive Coverage: Whether you're a beginner or an advanced learner, Cybellium books cover a wide range of topics, from foundational principles to specialized knowledge, tailored to your level of expertise. Become part of a global network of learners and professionals who trust Cybellium to guide their educational journey. www.cybellium.com
Author: Cybellium
Publisher: Cybellium
ISBN: 1836793928
Category : Study Aids
Languages : en
Pages : 270
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Book Description
Welcome to the forefront of knowledge with Cybellium, your trusted partner in mastering the cuttign-edge fields of IT, Artificial Intelligence, Cyber Security, Business, Economics and Science. Designed for professionals, students, and enthusiasts alike, our comprehensive books empower you to stay ahead in a rapidly evolving digital world. * Expert Insights: Our books provide deep, actionable insights that bridge the gap between theory and practical application. * Up-to-Date Content: Stay current with the latest advancements, trends, and best practices in IT, Al, Cybersecurity, Business, Economics and Science. Each guide is regularly updated to reflect the newest developments and challenges. * Comprehensive Coverage: Whether you're a beginner or an advanced learner, Cybellium books cover a wide range of topics, from foundational principles to specialized knowledge, tailored to your level of expertise. Become part of a global network of learners and professionals who trust Cybellium to guide their educational journey. www.cybellium.com
Author: Khosrow-Pour, Mehdi
Publisher: IGI Global
ISBN: 1599043866
Category : Reference
Languages : en
Pages : 1018
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Book Description
"This book is the premier comprehensive reference source for the latest terms, acronyms and definitions related to all aspects of information science and technology. It provides the most current information to researchers on every level"--Provided by publisher.
Author: Frank Schneider
Publisher: Logos Verlag Berlin GmbH
ISBN: 3832536337
Category : Business & Economics
Languages : en
Pages : 172
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Book Description
Many tasks in operations management require the solution of complex optimization problems. Problems in which decisions are taken sequentially over time can be modeled and solved by dynamic programming. Real-world dynamic programming problems, however, exhibit complexity that cannot be handled by conventional solution techniques. This complexity may stem from large state and solution spaces, huge sets of possible actions, non-convexities in the objective function, and uncertainty. In this book, three highly complex real-world problems from the domain of operations management are modeled and solved by newly developed solution techniques based on stochastic dynamic programming. First, the problem of optimally scheduling participating demand units in an energy transmission network is considered. These units are scheduled such that total cost of supplying demand for electric energy is minimized under uncertainty in demand and generation. Second, the integrated problem of investment in and optimal operations of a network of battery swap stations under uncertain demand and energy prices is modeled and solved. Third, the inventory control problem of a multi-channel retailer selling through independent sales channels is modeled and optimality conditions for replenishment policies of simple structure are proven. This book introduces efficient approximation techniques based on approximate dynamic programming (ADP) and extends existing proximal point algorithms to the stochastic case. The methods are applicable to a wide variety of dynamic programming problems of high dimension.
Author:
Publisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 430
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Book Description
