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Inventory Management

Introduction

We have implemented some IT case studies to solve various business problems. Each of these cases represents an important application for information technology in business and society. We are currently engaged in a number of research projects that build on these case studies and explore different aspects of their potential impact.

Approach

A manufacturing company needed to improve inventory management to keep up with rapidly changing customer needs. We recommended they use a machine learning algorithm, which would learn how quickly different parts were selling and then order more of the most popular parts, helping the company avoid out-of-stock items.

Results

It was proven that the use of predictive analytics provides more than a simple means to analyze the data and a better understanding of our customer’s needs. In addition, our customer was able to maintain a high-performing environment because of all the advantages gained from this service. Moreover, products were sold more quickly, the satisfaction of customers was improved and the production capacity increased as well.