Big Assortments, Small Stores: How Do Retailers Decide?
How can retailers offer wide product variety, when their store space is limited? Research shows how to make better stocking decisions.
Sumit Kunnumkal
Professor and Area Leader of Operations Management at the Indian School of Business (ISB). He holds a PhD in Operations Research from Cornell University. He received his MS in Transportation from the Massachusetts Institute of Technology and a B.Tech in Civil Engineering from the Indian Institute of Technology, Madras.
Video Summary
Large retail stores typically carry a wider range of products, while smaller stores are limited by space. This raises two key questions for retailers: What products should they stock (an assortment decision) and how much of each should they stock (an inventory decision).
In this episode of The Big Picture, Professor Sumit Kunnumkal speaks with Professor Bhagwan Chowdhry about his co-authored research that tackles these two challenges. He discusses his research model designed to help retailers make optimal stocking decisions and thereby enhancing revenue
Authored by ISB Editorial