Author(s)

Keding Sheng ¹, Xingshuai Mei ¹, Xitong Yang ¹, Huimin Zhang ¹

Affiliation(s)

¹ School of Politics and Public Administration, Qinghai Minzu University, Xining, 810007, China

Corresponding Author

Huimin Zhang

ABSTRACT

This study aims to enhance the operational efficiency and sales revenue for fresh food supermarkets through preprocessing and in-depth analysis of vegetable sales data. The research begins by clarifying the relationships between individual items and product categorizations, utilizing data mining techniques such as association rule learning to reveal purchasing patterns among different items. Subsequently, the distribution patterns of individual item sales and their correlation with category sales are analyzed, employing descriptive statistics and visualization methods, such as box plots and bar charts, to test for normality within the data. Based on these findings, either the Pearson or Spearman correlation models are selected for quantitative analysis. Through data analysis, a linear regression model is constructed to delineate the relationship between total sales volume and cost-plus pricing. This model is integrated with LSTM time series analysis to guide the formulation of replenishment plans and the optimization of pricing strategies. Additionally, the relationship between product loss rates and shelf life is considered. A knapsack model is applied to optimize replenishment decisions, ensuring the maximization of individual item profit margins within the constraints of knapsack capacity, thereby improving the accuracy and economic benefits of restocking. The methodologies and models presented in this research hold significant theoretical and practical implications for the management and operation of fresh food supermarkets.

KEYWORDS

Association Rule Learning, Pearson Correlation Coefficient, LSTM Time Series Analysis, Knapsack Model

CITE THIS PAPER

Keding Sheng, Xingshuai Mei, Xitong Yang, Huimin Zhang, Research on Pricing and Replenishment of Vegetable Products Based on the Optimization of Supermarket Revenue. Information Systems and Economics (2024) Vol. 5: 148-155. DOI: http://dx.doi.org/10.23977/infse.2024.050120.

REFERENCES

[1] Zhang Yajun. Comprehensive Optimization of Inventory, Price, and Quality of Perishable Products [D]. Southeast University, 2021.
[2] Lu Fen. Research on Production and Pricing Joint Decision under Supply Uncertainty [D]. Huazhong University of Science and Technology, 2018.
[3] Luo Zican, Ling Shanni. Review of foreign perishable inventory models and inventory management research [J]. Logistics Technology, 2023, 46 (07): 149-152+176.
[4] Jiao Jiao, He Lili, Zheng Junhong. DDQN-based Fresh Agricultural Products Retailer's Inventory Cost Control Model [J]. Intelligent Computer and Applications, 2023, 13 (10): 60-64+72.
[5] Pan Xiaofei, Xie Zhiheng, Wang Shuyun. Optimization Decision of Preservation Effort and Pricing of Fresh Products Supermarket Considering Loss Aversion [J]. Highway Traffic Science and Technology, 2022, 39 (06): 177-185+190.
[6] Zhi E, Wang Xueqiang, Zhang Fengfei, Xu Jingde, Ma Jun. Study on the construction of coal mine ventilation safety production standardization management system based on game combination weighting and rank sum ratio method. Journal of North China Institute of Science and Technology, 2023, 20 (03): 7-13.
[7] Xu Wenhan. Textual Information Disclosure in Annual Reports of Listed Companies: Influencing Factors and Economic Consequences [D]. Zhejiang Gongshang University, 2019.
[8] Han Jinlei, Xiong Pingping, Sun Jihong. Research on Stock Price Time Series Prediction Based on LSTM and Grey Model [J/OL]. Journal of Nanjing University of Information Science & Technology (Natural Science Edition), 1-22 [2023-11-28]
[9] Cao Ruya. Penalized Estimation of Functional Partial Linear Models under Complex Data [D]. Changchun University of Technology, 2023.
[10] Tao Lang. Study on the Optimization Method of Complex Knapsack Problem Model Based on Genetic Algorithm [D]. Anqing Normal University, 2021.

Sponsors, Associates, and Links

---

• Accounting, Auditing and Finance
  
  
• Industrial Engineering and Innovation Management
  
  
• Tourism Management and Technology Economy
  
  
• Journal of Computational and Financial Econometrics
  
  
• Financial Engineering and Risk Management
  
  
• Accounting and Corporate Management
  
  
• Social Security and Administration Management
  
  
• Population, Resources & Environmental Economics
  
  
• Statistics & Quantitative Economics
  
  
• Agricultural & Forestry Economics and Management
  
  
• Social Medicine and Health Management
  
  
• Land Resource Management
  
  
• Information, Library and Archival Science
  
  
• Journal of Human Resource Development
  
  
• Manufacturing and Service Operations Management
  
  
• Operational Research and Cybernetics