An Analytical Research on Inventory Demand Forecasting using Machine Learning

Volume 19 No 5 (2021)

Vijay Kumar, Dr. Savya Sachi

DOI: 10.48047/nq.2021.19.5.NQ21087

Abstract

Demand forecasting is becoming a more crucial function in the highly competitive retail sector, where retailers are utilizing data. This study forecasts retail demand for thousands of products at 1C Company using machine learning. This study's model, known as the hybrid Support Vector Machine, combines conventional statistics and machine learning methods. In addition, this research evaluates and compares the model outputs, taking into account how much better the machine learning approach is than the conventional time series forecasting techniques.

Keywords

Demand Forecasting, More Crucial Function, Highly Competitive Retail Sector, Support Vector Machine.

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