Opportunity cost estimation using temporal association rule mining
by Reshu Agarwal
International Journal of Services Sciences (IJSSCI), Vol. 6, No. 3/4, 2017

Abstract: Modern production planning and inventory control has been developed. However, efficient method for evaluating the lost sales in different time-periods has not been proposed. In this paper, a mathematical model to estimate the opportunity cost based on association rules is proposed considering cross-selling effect in various time-spans. A numerical example is used to explain the new approach. The results show that the proposed approach can gain a well insight into the cross-selling effect among items and is applicable for large sized transaction database.

Online publication date: Fri, 18-May-2018

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