Inventory Management With the Help of Predictive and Prescriptive Analytics Helps Businesses Improve

Improved Financial Metrics by turning Predictive analytics into Prescriptive analytics

Decisions about inventory management in retail, manufacturing, and supply chain settings are critical to the success of businesses. Improper management of inventories can have a significant impact on a company’s profits by increasing expenses and overhead. While there are many aspects to inventory management, this post will focus on optimizing inventory cost using the operations research method.

Introduction

The holding cost, also known as …

analytics businesses data science decision making inventory management optimization predictive retail