Forecasting and Inventory Management: Introduction
- What is demand forecasting and inventory management?
- How do these practices affect company’s profitability?
Forecasting Techniques: Overview
- Different approaches for forecasting demand.
- Detecting demand patterns to forecast future demand
- Forecasting demand for new versus stable (old) products
- Forecasting as a combination of art and science
- Forecasting demand when demand is rare
- (Maintenance and Repair, Medical devices, Specialized medicines)
Overview of Inventory Management Techniques
- Different approaches for managing inventory
- Inventory management practices used in the industry
- Managing inventory for continuous demand (Retail, Manufacturing, Consumables)
- Managing inventory of perishable products (Groceries, Restaurants, Fashion clothing, Consumer electronics, Travel services)
- Managing inventory for projects (Construction)
Current State and Future Advances
- Collaborative forecasting and inventory management between buyer and supplier
- Software used for forecasting and inventory management
- Role of humans in computer-aided forecasting and inventory management
- Use of machine learning and artificial intelligence