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SUMMARY:Data-Driven Inventory Control and Integrated Employee Involvement for Special Buys in Brick-and-Mortar Retail
DESCRIPTION:Speaker: Alex Tschan\, Project Manager\, ALDI SE & Co. KG Murr \nALDI SÜD Germany launched the ‘Data-Driven Special Buys’ project in response to pandemic-related supply chain disruptions\, market shifts\, and increasing competition. This initiative combines advanced analytics and operations research with employee engagement to optimize product lifecycles. Ensuring practical relevance and applicability in business\, including the satisfaction of all stakeholders involved (stores\, national buying\, project management\, German board)\, was a high priority. \nMethods used include: (1) multi-period optimization models (MIPs) for product allocation optimization\, considering product demand and stock-keeping costs; (2) machine learning classification methods for store product allocation (“SAM”); (3) a proprietary algorithm (“ANA”) for just-in-time reallocations between stores; (4) a multi-period dynamic programming model (“DAVE”) for nationwide inventory control; (5) a sophisticated version of DAVE (“DAVE SDP”); (6) multivariate regression analyses for budget allocations of small product quantities for stores; and (7) a smartphone application (“Market-Whispering”) to engage 50\,000 employees in product selection. \nThe project faced coordination challenges and required a strategic shift from decentralized to centralized inventory control. Proprietary software for the special buys product range improved operational efficiency\, impacting the daily operations of 40\,000 employees\, and led to annual savings of several million euros in Germany. \n  \n\n\nAbout the speaker: \nAlex Tschan is a Manager for Research and Development at ALDI SÜD Germany\, in the division of Project Management & the National Buying and Procurement Committee. As a trained industrial engineer and an external PhD student with a focus on data-driven approaches for promotional products in retail\, Alex combines technical expertise with practical experience to drive innovative solutions in retail operations. \n\n\n\n\n\n\n\n\n\n\n\nEURO Practitioners’ Forum past and planned activities are available to the Forum members\, as well as the wider public. \nVisit the website and register as a member for free\, to get the regular updates on all activities: EPF Member registration page. The recordings and details from previous webinars are also available on this website. \nFollow the Forum on Twitter\, LinkedIN and Eventbrite. \n\n\n\n\n\n\n\n\n\n\n\nEURO Practitioners’ Forum webinars organisers: Sofiane Oussedik (IBM)\, Joaquim Gromicho (ORTEC)\, Torkel Haufmann (Sintef)\, Adisa Mujezinovic
URL:https://www.euro-online.org/websites/or-in-practice/event/ata-driven-inventory-control-and-integrated-employee-involvement-for-special-buys-in-brick-and-mortar-retail/
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