Dynamic Generation of Personalized Product Bundles in Enterprise Networks

Karageorgos, Anthony; Rapti, Elli

doi:10.1007/978-3-642-41033-8_29

Cited by 4 publications

(8 citation statements)

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“…In this paper we extend ideas from our previous work [8] on the adaptive generation of personalized product bundles by introducing constraints and rules in the bundling process. The main contribution of this paper is the joint use of constraints and rules enabling user preferences to be considered in finding the optimal product bundles through a dynamically adaptive process.…”

Section: Introductionmentioning

confidence: 92%

“…The process begins with the user input, which can be an item that the user selected to view. Using product information and customer historical transactions substitution and complementarity associations between products are calculated as in [8]. In addition, user and administrator defined criteria in the form of constraints and rules are used to lead the association mining process.…”

Section: Product Bundling Processmentioning

confidence: 99%

“…In the case of smart business networks in particular, product bundles can be created dynamically according to customer requirements and the solutions offered by the partners in the business network. Figure 1 illustrates the dynamic product bundling process in e-Furniture, which is achieved through the estimation of substitution and complementarity associations between products using associations mining techniques as proposed in [8]. Substitution associations reflect the degree to which two products are similar and can substitute each other, while complementarity associations reflect the degree to which an item enhances the purchasing possibility of another.…”

Section: Introductionmentioning

confidence: 99%

“…The e-Furniture system [8,9] is an agent-based infrastructure developed in order to support 'smart' collaboration in furniture and wood product enterprise networks. e-Furniture covers both B2B transactions and B2C transactions and the main innovation of the system is its capability of bundling products and services taking into account individual requirements of both manufacturers and customers.…”

Section: Introductionmentioning

confidence: 99%

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Adaptive Constraint and Rule-Based Product Bundling in Enterprise Networks

Rapti

Karageorgos

Ntalos

2014

2014 IEEE 23rd International WETICE Conference

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Product bundling refers to the combination of several products for sale as one product. Current bundling approaches lack the ability to adapt, focusing mostly on the creation of pre-computed static bundles, which prove to be inefficient considering the dynamically changing prospective customer needs and product availability, as is particularly the case in enterprise networks. This paper describes a novel approach for dynamic generation of personalized, constrained and rule-based product bundles in such environments. The proposed agent-based approach involves estimation of substitution and complementarity associations between products and constructing bundles according to individual customer preferences. The process adapts automatically to changing circumstances, such as customer profile, product availability and constraint and rule diversity. The proposed approach is discussed in the context of e-Furniture, an agentbased system supporting networking of furniture and wood product manufacturing enterprises.Index Terms-Adaptive product bundling, constraint-based bundling, rule-based product bundling, enterprise networks.

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Section: Introductionmentioning

confidence: 92%

Section: Product Bundling Processmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Adaptive Constraint and Rule-Based Product Bundling in Enterprise Networks

Rapti

Karageorgos

Ntalos

2014

2014 IEEE 23rd International WETICE Conference

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“…However, none of the proposed approaches achieves dynamic product bundling while taking into account individual user preferences. Therefore, to address the shortcomings of current approaches, in this paper a bio-inspired approach for dynamic generation of personalized product bundles is proposed, based on the well-known Ant Colony Optimization (ACO) algorithm [10] and the product bundling approach introduced in [11]. In ACO, artificial ants traverse a graph in search for good solutions depositing pheromone along each trail.…”

Section: Introductionmentioning

confidence: 99%

A Bio-inspired Approach for Dynamic Product Bundling in Enterprise Networks

Karageorgos¹,

Rapti²,

Gerogiannis³

2016

JSW

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Product bundling is a marketing strategy that concerns offering several products for sale as one combined product. Current bundling technology mainly focuses on the creation of static bundles, which involves pre-computing product bundles and associated discounts. However, due to the inherent dynamism and constant change of current and potential customer information, as is particularly the case in enterprise networks, static product bundles often prove to be inefficient. In this paper, we propose a bio-inspired approach for dynamic generation of personalized product bundles. The approach is based on the Ant Colony Optimization algorithm aiming to optimize the match between the available products and individual customer preferences. The applicability of the proposed approach is discussed through an exemplar application scenario.

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Multi-objective evolutionary product bundling

Tunalı¹,

Bayrak²,

Sánchez-Anguix

et al. 2021

Proceedings of the Genetic and Evolutionary Computation Conference Companion

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Product bundling is a strategy conducted by marketing decisionmakers to combine items or services for targeted sales in today's competitive business environment. Targeted sales can be in various forms, like increasing the likelihood of a purchase, promoting some products among a specific customer segment, or improving user experience. In this study, we propose an evolutionary product bundle generation strategy that is based on the NSGA-II algorithm. The proposed approach is designed as a multi-objective optimization procedure where the objectives are designed in terms of desired bundle feature distributions. The designed genetic algorithm is flexible and allows decision-makers to specify objectives such as price, season, item similarity and association with bundle size constraints.In the experiments, we show that the evolutionary approach enables us to generate Pareto solutions compared to the initial population.

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Dynamic Generation of Personalized Product Bundles in Enterprise Networks

Cited by 4 publications

References 10 publications

Adaptive Constraint and Rule-Based Product Bundling in Enterprise Networks

Adaptive Constraint and Rule-Based Product Bundling in Enterprise Networks

A Bio-inspired Approach for Dynamic Product Bundling in Enterprise Networks

Multi-objective evolutionary product bundling

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