Intelligent site selection for bricks-and-mortar stores
Purpose – The purpose of this paper is to achieve intelligent superstore site selection. Yonghui Superstores partnered with Cardinal Operations to incorporate a tremendous amount of site-related information (e.g. points of interest, population density and features, distribution of competitors, trans...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Emerald Publishing
2019-09-01
|
| Series: | Modern Supply Chain Research and Applications |
| Subjects: | |
| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/MSCRA-03-2019-0010/full/pdf?title=intelligent-site-selection-for-bricks-and-mortar-stores |
| _version_ | 1811258181844729856 |
|---|---|
| author | Dongdong Ge Luhui Hu Bo Jiang Guangjun Su Xiaole Wu |
| author_facet | Dongdong Ge Luhui Hu Bo Jiang Guangjun Su Xiaole Wu |
| author_sort | Dongdong Ge |
| collection | DOAJ |
| description | Purpose – The purpose of this paper is to achieve intelligent superstore site selection. Yonghui Superstores partnered with Cardinal Operations to incorporate a tremendous amount of site-related information (e.g. points of interest, population density and features, distribution of competitors, transportation, commercial ecosystem, existing own-store network) into its store site optimization. Design/methodology/approach – This paper showcases the integration of regression, optimization and machine learning approaches in site selection, which has proven practical and effective. Findings – The result was the development of the “Yonghui Intelligent Site Selection System” that includes three modules: business district scoring, intelligent site engine and precision sales forecasting. The application of this system helps to significantly reduce the labor force required to visit and investigate all potential sites, circumvent the pitfalls associated with possibly biased experience or intuition-based decision making and achieve the same population coverage as competitors while needing only half the number of stores as its competitors. Originality/value – To our knowledge, this project is among the first to integrate regression, optimization and machine learning approaches in site selection. There is innovation in optimization techniques. |
| first_indexed | 2024-04-12T18:09:16Z |
| format | Article |
| id | doaj.art-82bdc578f9c948bea8c09f5f50c8411e |
| institution | Directory Open Access Journal |
| issn | 2631-3871 |
| language | English |
| last_indexed | 2024-04-12T18:09:16Z |
| publishDate | 2019-09-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Modern Supply Chain Research and Applications |
| spelling | doaj.art-82bdc578f9c948bea8c09f5f50c8411e2022-12-22T03:21:53ZengEmerald PublishingModern Supply Chain Research and Applications2631-38712019-09-01118810210.1108/MSCRA-03-2019-0010631364Intelligent site selection for bricks-and-mortar storesDongdong Ge0Luhui Hu1Bo Jiang2Guangjun Su3Xiaole Wu4Research Institute for Interdisciplinary Sciences and Shanghai Institute of International Finance and Economics, Shanghai University of Finance and Economics, Shanghai, ChinaYonghui Superstores Co. Ltd, Shanghai, ChinaResearch Institute for Interdisciplinary Sciences, Shanghai University of Finance and Economics, Shanghai, ChinaCardinal Operations, Shanghai, ChinaSchool of Management, Fudan University, Shanghai, ChinaPurpose – The purpose of this paper is to achieve intelligent superstore site selection. Yonghui Superstores partnered with Cardinal Operations to incorporate a tremendous amount of site-related information (e.g. points of interest, population density and features, distribution of competitors, transportation, commercial ecosystem, existing own-store network) into its store site optimization. Design/methodology/approach – This paper showcases the integration of regression, optimization and machine learning approaches in site selection, which has proven practical and effective. Findings – The result was the development of the “Yonghui Intelligent Site Selection System” that includes three modules: business district scoring, intelligent site engine and precision sales forecasting. The application of this system helps to significantly reduce the labor force required to visit and investigate all potential sites, circumvent the pitfalls associated with possibly biased experience or intuition-based decision making and achieve the same population coverage as competitors while needing only half the number of stores as its competitors. Originality/value – To our knowledge, this project is among the first to integrate regression, optimization and machine learning approaches in site selection. There is innovation in optimization techniques.https://www.emerald.com/insight/content/doi/10.1108/MSCRA-03-2019-0010/full/pdf?title=intelligent-site-selection-for-bricks-and-mortar-storesoptimizationsite selectionconvenience storedata-driven intelligent decision |
| spellingShingle | Dongdong Ge Luhui Hu Bo Jiang Guangjun Su Xiaole Wu Intelligent site selection for bricks-and-mortar stores Modern Supply Chain Research and Applications optimization site selection convenience store data-driven intelligent decision |
| title | Intelligent site selection for bricks-and-mortar stores |
| title_full | Intelligent site selection for bricks-and-mortar stores |
| title_fullStr | Intelligent site selection for bricks-and-mortar stores |
| title_full_unstemmed | Intelligent site selection for bricks-and-mortar stores |
| title_short | Intelligent site selection for bricks-and-mortar stores |
| title_sort | intelligent site selection for bricks and mortar stores |
| topic | optimization site selection convenience store data-driven intelligent decision |
| url | https://www.emerald.com/insight/content/doi/10.1108/MSCRA-03-2019-0010/full/pdf?title=intelligent-site-selection-for-bricks-and-mortar-stores |
| work_keys_str_mv | AT dongdongge intelligentsiteselectionforbricksandmortarstores AT luhuihu intelligentsiteselectionforbricksandmortarstores AT bojiang intelligentsiteselectionforbricksandmortarstores AT guangjunsu intelligentsiteselectionforbricksandmortarstores AT xiaolewu intelligentsiteselectionforbricksandmortarstores |