Council Post: Advanced Demand Forecasting using ML – My Experiments

The post-COVID supply chain world has become significantly more unpredictable and complex. Predicting customer demand is as important as ever, and a precise demand forecasting model is worth its weight in gold. Improving forecast accuracy aids in inventory optimization, warehouse resource/labor planning, supply & logistics planning, financial planning, and enhancing customer service levels. It has become imperative for large organizations to invest in advanced forecasting. While statistical forecasting has been around for decades, this area of time series forecasting is evolving at a breakneck speed. Due to this speed of innovation, traditional supply chain planning platforms are sometimes not able to catch up with the latest technology and AI innovations. As a result, many enterpri