This course aims to provide a thorough understanding of the
main functions of retail operations and marketing
analytics. In the first part
of the course, we will deal with the two major
themes of retail operations: assortment planning
and product life cycle planning. In assortment
planning, the goal is to learn how to determine the
set of products a retailer should carry for a store,
and how to manage inventory levels of each
product in a store. In product life cycle planning,
the objective is to arm students with
an overall understanding of
forecasting, inventory management, and
markdown pricing. We will also
discuss how to make data-driven decisions in retail
operations. In the second part of the course, we
will discuss how to summarize marketing data in
MS Excel. We will then learn how to estimate
demand and make pricing decisions by using MS
Excel. Then, we will study how to develop
forecasting methods with MS Excel. We, finally
turn our attention to market basket and RFM
analyses.
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