Inventory Management is extremely critical for retail, wholesale and manufacturing. Customer Satisfaction, cash-flow and profitability are highly related to the inventory management. There is another area to be considered – logistic management.
Thus, there are lots of people trying to minimize the costs with prediction on damage stock, healthy stock level and best-selling channels / retailers, etc.
We would like to share an article with this vital topic:
https://insidebigdata.com/2018/10/18/predictive-analytics-used-inventory-management/
If the prediction is being accurate, the fruitful results should be reflected immediately. There are real-world applications leading by our Data Science Evangelist – Samuel Sum and implemented by the team managed by him. If you want to know the cases in manufacturing & retail, please contact us.
