Clearance pricing and end of season inventory management are challenging and important problems in retailing. Sales rates depend upon price, seasonal effects, and the remaining assortment of items available to customers. There is little time to react to observed sales, and pricing errors result...

Item demands at individual retail stores in a chain often differ significantly, due to local economic conditions, cultural and demographic differences and variations in store format. Accounting for these variations appropriately in inventory management can significantly improve retailers’...