Operations

Forecasting Weekly Sales of Perishable Goods by Purchase Channel and Location to Optimize Resources

Application Area: 

Project Details

Term: 

Fall 2023

Students: 

Taylor Wu, Celine Lin, Sara Tsai, Ella Yang

University: 

NTHU

Report: 

Presentation Recording

The project focused on solving the situation that US Sales leaders in Nuqleous may struggle with fluctuating demand and ineffective perishable goods allocation due to unknown future sales under different purchase channels.

Optimized Inventory Management in Retail: A Comparative Analysis of Direct vs. Channel-Specific Sales Volume Forecasting for Perishable Goods to Enhance ROI

Application Area: 

Project Details

Term: 

Fall 2023

Students: 

Julián Celedón, Didier Fernando Salazar Estrada, Fifi Ding, Grégoire Serex

University: 

NTHU

Report: 

Presentation recording

Business Challenge
Retail suppliers struggle to balance inventory levels for perishable goods, needing precise sales forecasts to avoid overstocking or stock-outs.
 

Data Analysis Approach
● Data Source: 714-day sales data from major retail stores, provided by Nuqleous.
● Forecasting Methods:
○ Direct Forecasting of total weekly sales.
○ Channel-Specific Aggregation across different sales channels.

Forecasting Product Demand for a Retail Chain to Reduce Cost of Understocking and Overstocking

Application Area: 

Project Details

Term: 

2019

Students: 

Konpal Agrawal, Prakash Sarangi, Rahul Anand, Raj Mukul Dave, Ramchander G, William D’Souza

University: 

ISB

Presentation: 

Report: 

Bad inventory planning can have a negative impact leading to loss of sales at the retailer end (understocking) or an inventory build-up across the chain (overstocking). This can result in potential losses to all stakeholders in the chain. Forecasting can help demand planners of retail chains make better decisions regarding the right quantity of products to stock on retail shelves.

Optimizing Operational Spend by Predicting Product Sales

Application Area: 

Project Details

Term: 

2019

Students: 

Aditya Verma, Amit Kumar Gupta, Neeraj Nathany, Prateek Singhvi, Varsha Shridhar, Vishal Abraham

University: 

ISB

Presentation: 

Report: 

In the retail business, it is crucial for the firms to accurately forecast sales in the future to
prepare themselves and optimize costs. Over-estimating sales can lead to a significant cost of inventory holding and even losses due to expiry in case of perishable items. There could also be a scenario of underutilized resources in manufacturing be it machinery or labour.
Underestimation of sales in forecasts can lead to loss of business opportunity.

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