skip to main content
10.1145/3641343.3641449acmotherconferencesArticle/Chapter ViewAbstractPublication PagesiceitsaConference Proceedingsconference-collections
research-article

Research on Vegetable Sales Forecasting and Pricing Optimization Based on ARIMA and Greedy Algorithm

Authors Info & Claims
Published:29 April 2024Publication History

ABSTRACT

This paper mainly uses linear regression analysis, ARIMA model, greedy algorithm and other methods to solve the main problems such as how to accurately predict the sales trend, effectively make the replenishment plan and reasonable price strategy. This study collected various data of vegetable sales in a shopping mall in two years. The box plot is used for data preprocessing, the data is visualized, and the outliers are removed. First, predict the sales volume of each vegetable category from July 1 to 7.The ARIMA model is used to predict the price, and the adjusted grid model is used to predict the price and give the daily replenishment strategy for the next week. Further make sales forecast, replenishment and pricing decision of each vegetable item on July 1. And the data is preprocessed by average value, and the item number without transaction information is screened out. Then the problem is transformed into knapsack problem (a combinatorial optimization NP-complete problem) and solved by dynamic programming. Next, the collected loss rate data are introduced to further clean, screen and modify the previously processed data to establish the correlation between loss rate and shelf life, so as to establish a new model. Finally, the greedy algorithm is used to give the optimal solution, select 33 goods with the highest expected profit, and finally give the pricing strategy on July 1, 2023.

References

  1. Brockhoff K , Rao V R. 1993. Toward a demand forecasting model for preannounced new technological products. Journal of Engineering and Technology Management, 10(3): 211-228.Google ScholarGoogle ScholarCross RefCross Ref
  2. Lamos-Sweeney J D. 2012. Deep learning using genetic algorithms. Rochester Institute of Technology.Google ScholarGoogle Scholar
  3. Ahmed R A, Shabri A B. 2014. Daily crude oil price forecasting model using ARIMA, generalized autoregressive conditional heteroscedastic and support vector machines. American Journal of Applied Sciences, 11(3): 425.Google ScholarGoogle ScholarCross RefCross Ref
  4. Houlihan J B. 1985. International supply chain management. International Journal of Physical Distribution & Materials Management, 15(1): 22-38.Google ScholarGoogle ScholarCross RefCross Ref
  5. Shen L, Li F, Li C, 2020. Inventory optimization of fresh agricultural products supply chain based on agricultural super docking . Journal of Advanced Transportation, 2020: 1-13.Google ScholarGoogle Scholar
  6. Box, G. E., Jenkins, G. M, Reinsel, G. C, & Ljung, G.M. 2015. Time series analysis: forecasting and control. John Wiley & Sons.(2018)Google ScholarGoogle Scholar
  7. Cormen, T. H., Leiserson, C. E., Rivest, R.L., & Stein, C. 2009. Introduction to algorithms. MIT press.Google ScholarGoogle Scholar
  8. Dantzig, G. B, & Thapa, M. 2006. Linearprogramming 1: Introduction. Science &Springer Business Media & Hyndman, R. J.Google ScholarGoogle Scholar
  9. Makridakis, S., Wheelwright, 2008. Forecasting methods and applications. John Wiley & Sons.Google ScholarGoogle Scholar
  10. Hyndman, R. J, & Athanasopoulos, Forecasting: principles and practice. OTexts.Google ScholarGoogle Scholar

Recommendations

Comments

Login options

Check if you have access through your login credentials or your institution to get full access on this article.

Sign in
  • Published in

    cover image ACM Other conferences
    ICEITSA '23: Proceedings of the 3rd International Conference on Electronic Information Technology and Smart Agriculture
    December 2023
    541 pages
    ISBN:9798400716775
    DOI:10.1145/3641343

    Copyright © 2023 ACM

    Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than the author(s) must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected].

    Publisher

    Association for Computing Machinery

    New York, NY, United States

    Publication History

    • Published: 29 April 2024

    Permissions

    Request permissions about this article.

    Request Permissions

    Check for updates

    Qualifiers

    • research-article
    • Research
    • Refereed limited
  • Article Metrics

    • Downloads (Last 12 months)1
    • Downloads (Last 6 weeks)1

    Other Metrics

PDF Format

View or Download as a PDF file.

PDF

eReader

View online with eReader.

eReader

HTML Format

View this article in HTML Format .

View HTML Format