Confidence Intervals What are the confidence intervals? In statistics, it is almost always impossible to deal with the entire population as a whole. When I say population, I mean considering each and every possible value of a variable under consideration - be it sales of a commodity or the number...
Inventory rebalancing Introduction Any retail chain organisation, operating multiple stores across multiple states and cities, and sometimes in multiple countries, has to optimise its supply chain to meet varying customer demand. Outline Why does inventory imbalance happen? How to identify inventory imbalance across stores? Imbalance metrics Why does inventory imbalance...
AI models impact on retail sales Modern industrial sales and supply chains are complex. The amount of a product or service that a company can sell or produce over a given time frame is often negatively impacted by operational bottlenecks that might occur due to a number of reasons. In...
Demand forecasting solutions using machine learning A Gartner survey indicates that demand volatility is the top pain point for business executives - irrespective of the industry they are in. It indicates how the demand forecasting has become a critical part of growth strategies for businesses. According to the Institute of...
Best practices of Demand forecasting in retail Best practices for smarter predictions Demand forecasting retail is one of the toughest jobs. One has to look into the existing market data, store performance, marketing performance, the changing patterns of the target market and more to be able to predict consumer behavior...
ML in supply chain optimization How ML in supply chain optimization is improving management and efficiency Machine learning is one technology that has revolutionizing industries by helping optimize their day to day processes. One such segment where the technology has made its mark is supply chain optimization and management. ML...
