Dynamic pricing for perishable goods: A data-driven digital transformation approach

IF 9.8 1区 工程技术 Q1 ENGINEERING, INDUSTRIAL
Tahir Abbas Syed , Haris Aslam , Zeeshan Ahmed Bhatti , Fahad Mehmood , Aseem Pahuja
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引用次数: 0

Abstract

In supermarkets, rapid pricing adjustments are crucial due to the short shelf life of products. Adopting a multi-case study approach, this study examines the application of dynamic pricing strategies for perishable goods through the lens of a data-driven digital transformation (DD-DT) approach. We introduce a three-phase model of DD-DT for dynamic pricing: initiation, facilitation, and strategic adaptation. In the initiation phase, we identify essential frameworks for robust data collection and analytical processes, which form the backbone of informed pricing decisions. During the facilitation phase, the study integrates sophisticated algorithms and real-time analytics to process and interpret the collected data, facilitating its seamless integration into pricing strategies. The strategic adaptation phase is critical as it focuses on the ongoing refinement and enhancement of pricing strategies, enabling supermarkets to adapt swiftly to market fluctuations and consumer behaviour changes. By presenting a comprehensive DD-DT framework, this research significantly augments the existing literature on dynamic pricing and offers actionable insights for practitioners seeking to optimize pricing strategies in a digitally transforming marketplace.

易腐商品的动态定价:数据驱动的数字化转型方法
在超市,由于产品保质期短,快速调整定价至关重要。本研究采用多案例研究方法,从数据驱动的数字化转型(DD-DT)角度,探讨了易腐商品动态定价策略的应用。我们为动态定价引入了一个三阶段的 DD-DT 模型:启动、促进和战略适应。在启动阶段,我们确定了强大的数据收集和分析流程的基本框架,这些框架构成了知情定价决策的基础。在促进阶段,研究整合了先进的算法和实时分析技术,以处理和解释所收集的数据,促进数据与定价策略的无缝整合。战略调整阶段至关重要,因为它侧重于不断完善和改进定价战略,使超市能够迅速适应市场波动和消费者行为变化。通过提出一个全面的 DD-DT 框架,这项研究极大地丰富了有关动态定价的现有文献,并为在数字化转型市场中寻求优化定价策略的从业人员提供了可行的见解。
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来源期刊
International Journal of Production Economics
International Journal of Production Economics 管理科学-工程:工业
CiteScore
21.40
自引率
7.50%
发文量
266
审稿时长
52 days
期刊介绍: The International Journal of Production Economics focuses on the interface between engineering and management. It covers all aspects of manufacturing and process industries, as well as production in general. The journal is interdisciplinary, considering activities throughout the product life cycle and material flow cycle. It aims to disseminate knowledge for improving industrial practice and strengthening the theoretical base for decision making. The journal serves as a forum for exchanging ideas and presenting new developments in theory and application, combining academic standards with practical value for industrial applications.
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