Business Excellence, Vol. 10 No. 1, 2016.
Preliminary communication
APPLICATION OF MODEL FOR OPTIMIZATION OF ASSORTMENT MANAGEMENT (OPTAS MODEL) IN RETAIL STORES IN REPUBLIC OF CROATIA
Ivan Kovač
; University of Zagreb, Faculty of Economics and Business
Mirko Palić
; University of Zagreb, Faculty of Economics and Business
Marko Lovrić
; Jamnica d.d.
Abstract
The main aim of this paper is to elaborate on assortment management as a strategic process that enables a more efficient use of store space in order to increase profitability. Such process is in the interest of both retailers and manufacturers in order to effectively use
retail potential and increase profi tability in a way to offer an optimal range of assortment that will satisfy customers’ needs. This paper analyses the application of the model on the example of the soft drinks category in Croatia. The model for optimization of assortment
management (OPTAS Model) represents a long term research effort which has finally been systematically applied in business practice. Data of the empirical research show that after only partial implementation of the OPTAS model, the business performance in the soft drinks category increased sharply. Therefore, this research and the Model used can be an efficient algorithm for the implementation of this complex challenge in business practice.
Keywords
OPTAS model; assortment management; soft drinks; retail; Croatia
Hrčak ID:
160379
URI
Publication date:
15.6.2016.
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