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AI-Driven Demand Forecasting for Inventory Management: Eliminate Overstocking and Reduce Costs!
#Demand #Forecasting #Inventory #Management #Prevent #Overstocking #Wasted #Cost
This video shows how Gleematic can do time series forecasting with A.I. Machine Learning. In this video, Gleematic will predict the quantity of products sold over a specified time period.
The forecasts will be useful for inventory management, by optimizing stock levels and avoiding overstocking which can affect cost and wastage. The benefits of having this demand forecasting are:
1. Reduced Stockouts
By accurately predicting demand, businesses can ensure they have enough stock to meet customer demand, reducing the risk of lost sales.
2. Minimized Excess Inventory
Forecasting helps avoid overstocking, which ties up capital and increases storage costs.
3. Improved Cash Flow
Accurate forecasting enables better cash flow management by reducing the amount of money tied up in unsold inventory.
00:51 Data to forecast
01:43 Dataset to train the robot
02:15 AI functions in Gleematic for forecasting
03:09 Running Gleematic
03:31 Forecasting result
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