Time series forecasting
Predict future requirements
Reduce inventory management effort
Tool to monitor and adjust inventory level requirements for each distribution facility.
This is the process and platform that we use to bring products into our platform and into our inventory management.
Since inventory management is such an important element of our solution and since we have limited distribution space, we have to make sure that we have rentable merchandise in stock. This tool continuously monitors the activity of every product and category/subcategory and determines which products should be eliminated and which products should expand their selection. Additionally, this allows us to make room for seasonal items.
Building of unified data repository that includes data from all sources
We have built an inventory forecasting tool with the help of python and machine learning to create a forecasting application that uses forecasting techniques and a time series forecasting model to predict future requirements. This maintains stock for any store and reduces inventory management efforts. This provides an analytical report using the ml model and enough historical data. Our forecasting tool provides an analytical approach to take business decisions.
Our in-house inventory forecasting tool has been built using Python and a machine learning model. The inventory forecasting tool can be customized completely as per the client’s requirement.
We have built the tool using the following:
- Machine learning model
- Time series methods
- API Design Methods