Supply Chain Demand Forecasting
Predictive Analytics for Inventory Management
Traditional forecasting tools or software generally predict monthly or yearly demand for a class of product at market level or distribution level, which often times does not reflect the dynamics of different product demands at different locations at different times.
Accurate demand forecasting relies on granular analysis that allows businesses to make precise adjustments to product inventories, reducing costs and working capital and creating a foundation for omnichannel innovation.
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Using Databricks and machine learning, businesses can:
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Increase scale and granularity while reducing response time at the local level
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Optimize profitability and capital allocation by stocking the right items without wasting space on items that need to be discounted or disposed.
© 2021 by Shefali Bisht.