AI‑driven forecasting: Proof of Concept
June 15, 2023Anjali Nair
Forecasting is the foundation for inventory management systems. Traditionally, MRP systems have a forecasting model for predicting future demand requirements. These modules are often highly dependent on human expertise and manual labour. To add on, considering all variables that affect the demand and supply, makes forecasting a highly complex task for organisations.
Studio Vi recognised this bottleneck and looked towards AI in finding a solution. While everyone is raging over the AI language models, we overlook the power in AI based forecasting models. To showcase this potential, we have developed our very own forecasting model to predict demands for a Bike sharing organisation! Our tool uses multiple variables that could impact demands, while also ensuring scalability and adaptability. We end up with a model that has the capacity to forecast demands weeks or even months in advance.
Watch the video below to learn more about how we created this forecasting model, step by step. Discover how AI can be used to elevate and streamline your organisation. Our Proof of Concept is just a teaser.
Vidar Daniels Digital Director
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