AI-Powered Demand Forecasting for Retail

Enhancing inventory accuracy and customer satisfaction through predictive analytics.

AI-Powered Demand Forecasting for a Large Retailer

Enabled the retailer to significantly improve inventory accuracy, reduce stock-outs and overstock situations, optimize warehouse operations, and enhance overall supply chain efficiency, leading to substantial cost savings and improved customer satisfaction.

Challenge

The retailer required highly accurate order predictions to optimize inventory levels, manage logistics, and streamline supply chain operations across their extensive Network.

Solution

We implemented a comprehensive demand forecasting solution. This involved: designing and building robust data engineering pipelines for preprocessing vast datasets from various sources (sales history, promotions, external factors); developing and deploying multiple Machine Learning models (e.g., time series, ensemble methods) that were evaluated and fine-tuned to predict the optimal demand for various products.

Impact & Results

Enabled the retailer to significantly improve inventory accuracy, reduce stock-outs and overstock situations, optimize warehouse operations, and enhance overall supply chain efficiency, leading to substantial cost savings and improved customer satisfaction.

Reduced stockouts by 25%

Improved inventory accuracy

Enhanced customer satisfaction

Lowered excess inventory holding costs

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