Objective:
Optimize inventory management and
supply chain operations to meet customer demand while minimizing costs.
Description:
Develop predictive models to
forecast sales demand for products and services based on historical sales data,
market trends, and external factors (e.g., seasonality, promotions). Utilize
advanced analytics to optimize inventory levels, procurement processes, and
production schedules. Implement real-time monitoring and alerts to respond to
demand fluctuations promptly.
Deliverables:
· Sales
demand forecasting models with accuracy metrics and confidence intervals.
· Inventory
optimization algorithms for determining optimal stock levels and reorder
points.
· Dashboard
for real-time inventory monitoring and supply chain performance tracking.
Benefits:
· Reduced
stockouts and excess inventory costs.
· Improved
customer satisfaction through timely order fulfilment.
· Increased
operational efficiency and cost savings in inventory management.