Big retailers, Supply chain, and logistics experts are using Machine Learning Forecasting to aid improve customer engagement and produce more precise demand forecasts better than traditional forecasting techniques. They can also use Machine Learning Forecasting to expand into new sales channels, improve customer service, reduce inventory and improve productivity.
There are many good reasons why demand forecasting is important. However, putting a reliable forecast for any business is collaborative efforts sharing across the supply chain with distorted demand signals, as demonstrated in the picture below.
Read the complete article « 5 Reasons Why Machine Learning Forecasting Is Better Than Traditional Forecasting Techniques » on the Dr. Muddassir’s blog – Ph.D. in Management Science from Lancaster University Management School.