Vegetable Pricing and Restocking Strategy Employing LSTM Two-Stage Hybrid Model

• DOI: 10.1145/3654823.3654867
• Publication Date: 2024-05-29T20:20:33Z
• Authors: Shihong Li; Kaien Pang; Danxiang Ai
• Keywords: Profit maximization; Maximization; Unit price; Decision maker; Pricing strategies; Variable pricing

The pricing and sales volume of vegetables have a direct impact on supermarket's revenue, there is discernible relationship between volume. Hence, determining the optimal for profit maximization paramount importance to supermarkets. This paper primarily explores issue automatic restocking decisions vegetable products. Specifically, we utilize an LSTM-multivariate linear regression hybrid model establish connection pricing. Furthermore, by taking unit price as decision variable objective, introduce decision-maker risk preferences create planning that aids supermarkets in making daily various categories. Experimental research based data from confirms effectiveness proposed model.