Stock Shortage Research Articles

Optimal Inventories via Customer Service Objectives

In this monograph, our aim is to show a basic approach to producing balanced stock ranges, thus avoiding the cost penalties of over stocking on the one hand whilst averting serious lost sales due to stock shortages on the other. Stocks should not be dealt with in a blanket fashion; certain selling items are a lot more important than others. Simple means of stock classification go a long way to revealing not only under and overstock situations but high priority stock ranges, growth areas, and most importantly declining products which may need phasing out altogether.

Design of Prediction Model using Data Mining for Segmentation and Classification Customer Churn in E-Commerce Mall in Mall

The classification of churn is driven by the potential risks e-commerce companies face, such as losing customers who discontinue their service usage or churn. Marketing specialists have shifted their efforts from acquiring new customers to retaining existing ones in order to mitigate customer churn. Predictive models are created using data mining techniques to identify customer churn patterns. This study proposes a data mining model aimed at predicting customer behavior, with the processed results utilized as suggestions for improvements and company strategies in customer retention through segmentation and classification. Segmentation and classification involve several variables: Session, Interaction with Application, Actions taken during the interaction, purchasing, claim, and discount. This study employs a clustering technique based on the Recency, Frequency, and Monetary (RFM) model, which considers factors such as the time since the last visit, the number of visits, and the total amount spent by the customer. The classification algorithm model was evaluated by comparing three classification algorithms: decision tree and Support Vector Machine (SVM). The decision tree algorithm had the highest accuracy, achieving an impressive 87% accuracy rate in customer classification. Factors influencing customer churn include purchasing behavior, session activity, claim feature utilization, adding products to cart, and discounts. Improving stock management is crucial to prevent stock shortages, likely to cause churn. Additional measures like sending emails/notifications and offering vouchers/loyalty points can be implemented for customers who added products to their carts but didn't complete the purchase, with a focus on popular products.

Optimality and Computation of (σ, S) Policies in the Multi-Item Infinite Horizon Inventory Problem

A multi-item inventory system with periodic review, single set-up cost K plus linear ordering cost c for changing stock levels, and holding and shortage cost l(x) for being in stock position x at the beginning of a period is considered. Demand in any period is assumed to be ξ with probability ϕ(x,ξ), where x is the stock level at the beginning of the period. The infinite horizon optimum policies found consist of ordering up to S for any point x in σ, the reorder region, and not ordering at x not in σ. A computational procedure is given, bounds are derived, and, for further assumptions on l, σ is further characterized.

The Transport Problem in Great Britain

THE appointment of Mr. F. J. Leathers to the new post of Minister of War-time Communications, thus combining the duties of Minister of Transport and Minister of Shipping, is to some extent an answer to criticisms of the transport systems of Great Britain made in the eighth and tenth reports of the Select Committee on National Expenditure. Both reports are highly critical of the lack of foresight which has allowed the present shortage of coal supplies and stocks and the difficulties in handling shipping at the docks to develop. Even under war conditions, the Sub-Committee on Transport Services considers that a ship can be unloaded and loaded again more quickly than transport can take traffic from, or bring traffic to, the ports. The failure to secure the existence of equipment such as powerful cranes and elevators which could be transported to and erected at the ports where need arose is strongly condemned. The Sub-Committee recommends the acceleration of delivery or transfer of such mechanical equipment and also that there should be no cessation of work in ports during ‘alerts' unless danger is imminent. While the appointment of regional port directors by the Minister of Transport.has been welcomed, the Sub-Committee points out that time alone will show whether such appointments, in some cases of men without previous experience of all the ramification of shipping and port management, is likely to bring success in discharging adequately and efficiently the very onerous responsibilities involved in securing the rapid clearance of both ports and ships.