Title of the Talk: "Retail Reimagined: Pricing Optimization in Single Channel, Multi-channel and Omni-channel Retailing"
Speaker: Dr. Bhagwat Ram, Research Associate at, IIM Ahmadabad.
Day, Date, and Time: Wednesday, 6th December, 2023, 10 AM to 11 AM.
Venue: Seminar room IE 211, Second Floor, IEOR Building.
Abstract:
This study examines two consequences when a producer adds a new digital channel. The first is the channel's interest effects between the newly added digital and the existing channel. The second is the rivalry effects between a producer and retailer. We analytically develop four models for four different channel strategies to optimize the price of channels. The present research informs the producer that if customers are very heterogeneous, then the producer may propose a multichannel strategy. If customers become homogenous, then the producer will acquire an omni-channel strategy. The producer provides a brick-and-mortar approach if the target customers are neither diverse nor comparable. We discuss the channel interest for market leadership. The producer employs the digital channel when the impact of rivalry becomes severe. The retailer might limit its market leadership when this independently constructed rivalry in the retail market helps to mitigate the optimization problem of channel pricing.
Brief Bio:
Bhagwat Ram is a Post-Doctoral Research Associate at the Centre for Digital Transformation, Indian Institute of Management Ahmadabad. He completed his Bachelor in Computer Application and Master in Computer Science from Sambalpur University. He received his Ph.D. in Computer Science from DST-Centre for Interdisciplinary Mathematical Sciences, Institute of Science, Banaras Hindu University. His research interests include numerical optimization, digital transformation, and supply chain management. He has published 18 research articles in the science citation index expanded journals. He has also co-authored two textbooks entitled Introduction to Linear Programming with MATLAB and Introduction to Unconstrained Optimization with R published by CRC Press, UK and Springer Nature, Singapore, respectively.