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.

Webinar: Forks Over Knives: Predictive Inconsistency in Criminal Justice Algorithmic Risk Assessment Tools

Webinar presenting our 2022 JRSS paper Forks Over Knives: Predictive Inconsistency in Criminal Justice Algorithmic Risk Assessment Tools at Data Science and Statistics Webinar (DaSSWeb), Department of Economics at University of Porto.

See here for abstract and further details.

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