EyeQube Retail Project,
Demand Forecasting and Stock Optimization
Beymen has taken sales and stock forecasting to a more advanced level
with machine learning in its complex and challenging operational processes.
The project:
- Forecasting sales based on the types of products and shops to improve stock optimization
- Providing accurate insights to accelerate the decision-making processes of senior management.
- Transitioning to the automatic estimate method by leaving the manual structure, and assuring that the analysis, coding, and estimation process times are reduced.
- Creating scalable insights based on branch and product, individually or collectively, with determined KPIs
- Digitalization of operational and demand forecasting processes.
Achievements:
- Providing decision support system in future planning with state-of-art machine learning algorithms.
- By analyzing sales data in periods such as hourly, daily, weekly, and monthly providing accurate forecast outputs.
- Visualizing data analyzes on real-time dashboards.
- Establishing the right stock plan by making the right demand forecast and ensuring that the costs are minimized.
