Integrating ARIMA and GA for Profit Maximization in Supermarket Pricing Strategy
DOI:
https://doi.org/10.54097/g2mrkn22Keywords:
Replenishment programme; pricing strategy; correlation Analysis; ARIMA; Genetic Algorithm.Abstract
Supermarkets need to consider a variety of factors when making vegetable replenishment and pricing decisions to meet market demand while maximising revenue. In this paper, firstly, the descriptive statistics of weekday and non-workday sales data are carried out separately and regressed to illustrate the correlation between the pricing and sales volume of each category, secondly, the ARIMA time series prediction of cost and sales volume are carried out separately, and with the goal of maximising the economic benefits in the next 7 days, the final mark-up rate and the maximum revenue are obtained by substituting into the GA model under the optimal daily replenishment volume and pricing strategy.
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