From Instinct to Insights: Data-Driven Inventory Forecasting in Logistics

Inventory forecasting heavily relies on accurate data and advanced analytics. AI-driven forecasting can reduce errors by 20-50%, but limited useful data impedes AI adoption. Data quality and analytics optimization are essential. AI and drones aid data collection, aiding real-time decision-making. AI tools predict sales at SKU level, aligning inventory with demand, enhancing operational efficiency. Implementing successful forecasting involves defining critical parameters, data smoothing, and training what-if simulations with augmented data. Data-driven inventory forecasting is crucial for supply chain success, enabling …

adoption advanced advanced analytics ai ai adoption ai applications ai tools analytics business business strategy collection data data collection data-driven data quality decision demand drones errors forecasting insights inventory logistics making optimization quality real-time reduce sales tools transportation