An Optimization Study of Pricing Strategies for Vegetable Category Based on Seasonal ARIMA Model with Linear Regression

Zhenshen Pan

doi:10.54097/03q06710

Authors

Zhenshen Pan

DOI:

https://doi.org/10.54097/03q06710

Keywords:

Seasonal ARIMA model, Linear regression, Vegetable category pricing.

Abstract

Different categories of vegetables have different growth cycles, seasonal supply variations, and price fluctuations. Supermarkets need to consider these factors when making replenishment and pricing decisions in order to maximise revenue while meeting market demand. In this paper, replenishment and pricing decisions are made based on the historical sales data of the superstore, using a linear regression model and then predicting future sales based on a seasonal ARIMA model. A new mathematical model about pricing and an optimization model with the objective of maximising the revenue of the superstore are developed to get the pricing strategy mainly by adjusting the cost rate and give the total daily replenishment and pricing strategy for vegetables from 1 to 7 July 2023 for each category.

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References

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