This article presents a mathematical model for jointly optimizing base stock levels for the multiple items subject to service level goals. The proposed model uses the expected demand and substitution probabilities between products as inputs and has been used to analyze the effects of demand...

The growth in online shopping and third-party logistics has caused a revival of interest in finding optimal solutions to the large-scale, in-transit freight consolidation problem. Given the shipment date, size, origin, destination, and due dates of multiple shipments distributed over space and...

This article presents a practical approach to estimate the substitution probabilities between products at a retail store by using the store's point of sale data and prospect theory based structural restrictions on the consumer choice behavior. The prospect theory-based reference dependent...