Pricing Optimization for Retailers


Charles Ng
Principal Scientist and Senior Manager, Retail Science & Analytics
IBM Enterprise Marketing Managment


Wednesday, May 1
4:15 - 5:15 PM
Y2E2, Room 101


Abstract:

IBM DemandTec Solutions help retailers and manufacturers make sound decisions around various important marketing and merchandising activities. For retailers, these include decisions regarding Assortment, Pricing, Promotions, and Markdowns. In this talk, we will focus on Pricing, and discuss how we can obtain optimal base price recommendations across an entire category. The talk will cover a forecasting and demand modeling methodology that takes into account cannibalization and cross effects between products, and an optimization approach based on an NLP formulation with rule relaxation.

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Operations Research Colloquia: http://or.stanford.edu/oras_seminars.html