Demand forecasting and inventory management using machine learning

Abstract

Demand forecasting and inventory management using machine learning

Abbakumov A.A., Yamashkin S.A., Karnetov V.G., Roshchikhin D.S.

Incoming article date: 22.04.2025

This article is devoted to the study of the possibilities of machine learning technology for forecasting the demand for goods. The study analyzes various models and the possibilities of their application as part of the task of predicting future sales. The greatest attention is focused on modern methods of time series analysis, in particular neural network and statistical approaches. The results obtained during the study clearly demonstrate the advantages and disadvantages of different models, the degree of influence of their parameters on the accuracy of the forecast within the framework of the demand forecasting task. The practical significance of the findings is determined by the possibility of using the results obtained in the analysis of a similar data set. The relevance of the study is due to the need for accurate forecasting of demand for goods to optimize inventory and reduce costs. The use of modern machine learning methods makes it possible to increase the accuracy of predictions, which is especially important in an unstable market and changing consumer demand.

Keywords: machine learning algorithms, demand estimation, forecasting accuracy, time sequence analysis, sales volume prediction, Python, autoregressive integrated moving average, random forest, gradient boosting, neural networks, long-term short-term memory