Title: Opportunity cost estimation using temporal association rule mining

Authors: Reshu Agarwal

Addresses: Department of Computer Science Engineering, G.L. Bajaj, Greater Noida, India

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.

Keywords: association rule mining; cross-selling; opportunity cost; inventory control; temporal association rule mining; loss-profit; data mining.

DOI: 10.1504/IJSSCI.2017.091819

International Journal of Services Sciences, 2017 Vol.6 No.3/4, pp.261 - 272

Received: 05 Jan 2017
Accepted: 05 Aug 2017
Published online: 18 May 2018 *

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