A Multi-objective Clearance Pricing Optimization Framework in brick-and-mortar stores using Reinforcement Learning
Walmart’s model of offering consistently low prices depends on constantly innovating to find new ways to reduce costs. The company developed a new system using machine learning to help perfectly time markdowns to optimize sales and clear excess inventory in its stores. The technique relies on operations research and provides feedback to help avoid excess inventory ordering in the future. The technology has already helped the company save millions of dollars.
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