A method to rationalize the product portfolio in retail stores

Retail store operations face a variety of challenges and complexities. Determining the best assortment is the main problem in the retail store. This re-search presents a practical methodology for the analysis of products in the assortment with the goal of reducing the excess items and improve sales...

Full description

Autores:
Coronado-Hernandez, Jairo R.
Ospina Mateus, Holman
Baron-Villamizar, Javier
Vidal, Lucelys
Piñeres Castillo, Aurora Patricia
Rojas-Millán, Rafael H.
Silva, Jesús
Tipo de recurso:
Article of journal
Fecha de publicación:
2020
Institución:
Corporación Universidad de la Costa
Repositorio:
REDICUC - Repositorio CUC
Idioma:
eng
OAI Identifier:
oai:repositorio.cuc.edu.co:11323/6920
Acceso en línea:
https://hdl.handle.net/11323/6920
https://repositorio.cuc.edu.co/
Palabra clave:
Rationalization
Portfolio optimization
Clustering analysis
Retail
Rights
closedAccess
License
CC0 1.0 Universal
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dc.title.spa.fl_str_mv A method to rationalize the product portfolio in retail stores
title A method to rationalize the product portfolio in retail stores
spellingShingle A method to rationalize the product portfolio in retail stores
Rationalization
Portfolio optimization
Clustering analysis
Retail
title_short A method to rationalize the product portfolio in retail stores
title_full A method to rationalize the product portfolio in retail stores
title_fullStr A method to rationalize the product portfolio in retail stores
title_full_unstemmed A method to rationalize the product portfolio in retail stores
title_sort A method to rationalize the product portfolio in retail stores
dc.creator.fl_str_mv Coronado-Hernandez, Jairo R.
Ospina Mateus, Holman
Baron-Villamizar, Javier
Vidal, Lucelys
Piñeres Castillo, Aurora Patricia
Rojas-Millán, Rafael H.
Silva, Jesús
dc.contributor.author.spa.fl_str_mv Coronado-Hernandez, Jairo R.
Ospina Mateus, Holman
Baron-Villamizar, Javier
Vidal, Lucelys
Piñeres Castillo, Aurora Patricia
Rojas-Millán, Rafael H.
Silva, Jesús
dc.subject.spa.fl_str_mv Rationalization
Portfolio optimization
Clustering analysis
Retail
topic Rationalization
Portfolio optimization
Clustering analysis
Retail
description Retail store operations face a variety of challenges and complexities. Determining the best assortment is the main problem in the retail store. This re-search presents a practical methodology for the analysis of products in the assortment with the goal of reducing the excess items and improve sales and profit margin of a retail store without affecting customer satisfaction. The methodology integrates 6 steps that allow to optimize products of a portfolio in categories, sub categories and segments, through Pareto analysis and clustering analysis using the BCG matrix. The methodology was applied in an independent supermarket. The results in the case of the application for non-perishable products, allowed to identify a set of different products (n = 152), of which they were prioritized in a subcategory (oils) in which 90 products were prioritized. In the example, it shows how 21 products have significant results in the variety of products. The combination of the global and local category of the product, the net profit, the inventory rotation and the participation of the growth provides a multifactorial analysis in the decision-making to supply with products a retail store seeking to increase the level of service and maximizing profits.
publishDate 2020
dc.date.accessioned.none.fl_str_mv 2020-08-13T16:55:34Z
dc.date.available.none.fl_str_mv 2020-08-13T16:55:34Z
dc.date.issued.none.fl_str_mv 2020
dc.type.spa.fl_str_mv Artículo de revista
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
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dc.type.content.spa.fl_str_mv Text
dc.type.driver.spa.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.spa.fl_str_mv https://hdl.handle.net/11323/6920
dc.identifier.instname.spa.fl_str_mv Corporación Universidad de la Costa
dc.identifier.reponame.spa.fl_str_mv REDICUC - Repositorio CUC
dc.identifier.repourl.spa.fl_str_mv https://repositorio.cuc.edu.co/
url https://hdl.handle.net/11323/6920
https://repositorio.cuc.edu.co/
identifier_str_mv Corporación Universidad de la Costa
REDICUC - Repositorio CUC
dc.language.iso.none.fl_str_mv eng
language eng
dc.rights.spa.fl_str_mv CC0 1.0 Universal
dc.rights.uri.spa.fl_str_mv http://creativecommons.org/publicdomain/zero/1.0/
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rights_invalid_str_mv CC0 1.0 Universal
http://creativecommons.org/publicdomain/zero/1.0/
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eu_rights_str_mv closedAccess
dc.publisher.spa.fl_str_mv Corporación Universidad de la Costa
dc.source.spa.fl_str_mv Advances in Cybernetics, Cognition, and Machine Learning for Communication Technologies
institution Corporación Universidad de la Costa
dc.source.url.spa.fl_str_mv https://link.springer.com/chapter/10.1007%2F978-981-15-3125-5_51
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spelling Coronado-Hernandez, Jairo R.Ospina Mateus, HolmanBaron-Villamizar, JavierVidal, LucelysPiñeres Castillo, Aurora PatriciaRojas-Millán, Rafael H.Silva, Jesús2020-08-13T16:55:34Z2020-08-13T16:55:34Z2020https://hdl.handle.net/11323/6920Corporación Universidad de la CostaREDICUC - Repositorio CUChttps://repositorio.cuc.edu.co/Retail store operations face a variety of challenges and complexities. Determining the best assortment is the main problem in the retail store. This re-search presents a practical methodology for the analysis of products in the assortment with the goal of reducing the excess items and improve sales and profit margin of a retail store without affecting customer satisfaction. The methodology integrates 6 steps that allow to optimize products of a portfolio in categories, sub categories and segments, through Pareto analysis and clustering analysis using the BCG matrix. The methodology was applied in an independent supermarket. The results in the case of the application for non-perishable products, allowed to identify a set of different products (n = 152), of which they were prioritized in a subcategory (oils) in which 90 products were prioritized. In the example, it shows how 21 products have significant results in the variety of products. The combination of the global and local category of the product, the net profit, the inventory rotation and the participation of the growth provides a multifactorial analysis in the decision-making to supply with products a retail store seeking to increase the level of service and maximizing profits.Coronado-Hernandez, Jairo R.-will be generated-orcid-0000-0003-4360-6128-600Ospina Mateus, Holman-will be generated-orcid-0000-0002-2385-774X-600Baron-Villamizar, JavierVidal, Lucelys-will be generated-orcid-0000-0002-8083-7251-600Piñeres Castillo, Aurora Patricia-will be generated-orcid-0000-0003-2445-8297-600Rojas-Millán, Rafael H.Silva, JesúsengCorporación Universidad de la CostaCC0 1.0 Universalhttp://creativecommons.org/publicdomain/zero/1.0/info:eu-repo/semantics/closedAccesshttp://purl.org/coar/access_right/c_14cbAdvances in Cybernetics, Cognition, and Machine Learning for Communication 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