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14 docs tagged with "Inventory Management"

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Comparing

Now that our forecasting is complete, we can compare the forecasts with IBP and get the difference in accuracy and errors.

Dashboard

The dashboard for presenting the results of this project was made programmatically using the Tremor framework of React Javascript. The web app was made using the NextJS framework and TypeScript.

Dashboard

Another page was added to the Sales Forecasting dashboard for Smart Supply.

Data

The data required for this was the forecast data of both my forecasts and IBP forecasts from earlier, and the current inventory data which was fetched with the SQL query:

Evaluation Metric

Choosing a good evaluation metric for our problem is important. How accurate our estimate is depends on what metric we are using, and depending on the situation, different metrics can be the most suitable.

Feature Engineering

After cleaning and preprocessing the data, we created the relevant and important features for forecasting.

Forecasting

Now that we have the cleaned dataset with the appropriate features, we can finally perform forecasting. This forecasting is just regression, with the exception that train data must be sequential upto a date and test data must be the sequence following that.

Introduction

This project was about optimally managing the inventory of various products, particularly Crop Protection (Insecticides, Fungicides, Herbicides, etc).

Introduction

This was a project started as an experiment to see whether using covariates like weather and economic indicators provide better forecasts than simply using historical data.

Introduction

Now that demand has been forecasted and is better than IBP forecasts for a significant number of products in many countries/regions, I decided to make use of it to further recommend how inventory should be managed.

Preprocessing

There are several steps followed for preprocessing the data.

Sufficiency

For every plant, its forecast and IBP forecast are summed for the given number of months and compared to the total inventory.

Updating

When the forecast accuracy got from our method is compared to IBP forecasts, we get some brands for which we have significantly higher accuracy/lower errors. We would like to improve the accuracy even further for these brands.