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- Yijia Chen Department of Oxford Brookes Business School, Oxford Brookes University, U.K
Department of Oxford Brookes Business School, Oxford Brookes University, U.K
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- Jiang Kai School of Business and Trade, Southwest University, China
School of Business and Trade, Southwest University, China
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- Shiyi Xiong Computing Science and Artificial Intelligence college Suzhou City University, China
Computing Science and Artificial Intelligence college Suzhou City University, China
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- Bowei Fan Department of Sociology, Shanghai University, China
ICAICE '23: Proceedings of the 4th International Conference on Artificial Intelligence and Computer EngineeringNovember 2023Pages 182–186https://doi.org/10.1145/3652628.3652659
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ICAICE '23: Proceedings of the 4th International Conference on Artificial Intelligence and Computer Engineering
Optimization Model for Vegetable Pricing in the Chinese Market Based on Gaussian Process Regression and Simulated Annealing Algorithm
Pages 182–186
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ABSTRACT
This paper focuses on the category of fresh vegetables and analyzes sales data in the Chinese market over the past three years to examine the relationship between the volume of sales and the price of these perishable goods. This article uses the Gaussian process regression model to fit the relationship between sales and the price, and accounting for transportation and storage losses, as well as the impact of discount sales, a refined total profit model for the category is presented. Finally, the profit model is optimized using simulated annealing to provide actionable recommendations for daily replenishment levels and pricing strategies.
References
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- Cui, B. 2011. The choice behavior in fresh food retail market: A case study of consumers in China. International Journal of China Marketing, 2(1), 68-76. https://www.proquest.com/scholarly-journals/choice-behavior-fresh-food-retail-market-case/docview/911436431/se-2Jon M. Kleinberg. 1999. Authoritative sources in a hyperlinked environment. J. ACM 46, 5 (September 1999), 604–632. https://doi.org/10.1145/324133.324140Google ScholarDigital Library
- Haroon, U., Chaudhary, M. H., Shahzad, M. A., Khan, M. A., & Nisar, N. 2020. Vegetable Prices Possess Seasonal Volatility: A Case Study of Lahore, Punjab, Pakistan. Journal of Economic Impact, 2(2), 62-71. https://doi.org/10.52223/jei0202204.Google ScholarCross Ref
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- Lei, H., Xue, M., Liu, H., & Ye, J. 2023. Price elasticity of CO2 emissions in China: A machine learning approach. Sustainable Production and Consumption, 36, 257-280. https://doi.org/10.1016/j.spc.2023.01.005Google ScholarCross Ref
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- Fan, T., Xu, C., & Tao, F. 2020. Dynamic pricing and replenishment policy for fresh produce. Computers & Industrial Engineering, 139, 106127. https://doi.org/10.1016/j.cie.2019.106127/Google ScholarDigital Library
- BRutenbar, R. A. 1989. Simulated annealing algorithms: An overview. IEEE Circuits and Devices Magazine, 5(1), 19-26. DOI: 10.1109/101.17235.Google ScholarCross Ref
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Optimization Model for Vegetable Pricing in the Chinese Market Based on Gaussian Process Regression and Simulated Annealing Algorithm
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ICAICE '23: Proceedings of the 4th International Conference on Artificial Intelligence and Computer Engineering
November 2023
1263 pages
ISBN:9798400708831
DOI:10.1145/3652628
Copyright © 2023 ACM
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- Published: 23 May 2024
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