Abstract
News editors obtained the following quote from the background information suppli ed by the inventors: “One of the largest causes for shrink in retail is spoilage , i.e., perishable items that have exceeded their expiration dates. Retailers ap ply price markdowns as a primary technique to move at-risk inventory before spoi lage occurs. Current solutions in the industry focus on the operational aspect o f markdowns referred to as “reduce to clear,” rather than the decision-making as pect of inventory optimization. For example, retailers depend on store walk-thro ughs to manually identify inventory at risk.
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