INVENTORY MANAGEMENT USING DEMAND SALES FORECASTING

Abstract

The purpose of the exercise was to find fitting solution to the problems faced in supply chain – How to decide the Inventory? How to maintain lean operations without hampering service levels? In our experience in the industry, we have found that in the lack of a better solution, companies have adopted simplistic methods, incorrectly assessing their need and in turn taking a strategic backseat in the competitive space. Ironically the answer to this archaic problem has always been in their hands – Data. Our module leverages sophisticated statistical models like Holts winter, AR, ARMA, ARIMA & SARIMA available in Python Libraries. The module is made so that an average excel user will be able to leverage available data and decide optimum inventory.