AI-based demand forecasting system
05/02/2023
About Customer
Issue 1: Customer’s demand forecasting system based on purchase data and related product information is of low accuracy. It is difficult to forecast demand for new products, and the optimal order quantity is unknown
Issue 2: System is heavily relied on human force & experience to run
Issue 2: System is heavily relied on human force & experience to run
Challenges
• Analyse & relearn customer’s forecast model
• Develop an AI demand forecasting system to predict and process customer quantity, optimal order quantity, order quantity, etc. using various forecast algorithms.
GITS Solutions
• Order volume, production volume optimization, sales revenue improved by 7%-10%
• Enabled market trends forecast and support in advertising to develop new products
• Customer volume forecasting and pricing optimization -> Reduced inventory costs, improved profitability
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