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My buddy ran a clothing startup a few years ago. I built a pretty simple inventory management predictive model (linear regression mostly) that would infer how m
by dvt 6y ago
My buddy ran a clothing startup a few years ago. I built a pretty simple inventory management predictive model (linear regression mostly) that would infer how much they'd need to stock up for the next quarter. Surprised that there isn't more work being done here, as a lot of industries are seasonal (from food, to clothing, to toys) and need to predict demand and balance on the knife's edge of "out of stock" and "too much stock."
- toyg 6y agoThat’s called Planning and Forecasting and there are plenty of dedicated apps. It’s a sales-heavy market though, where your competitors are the likes of Oracle and SAP, so it’s hard to reach.
- dvt 6y agoGotcha, makes sense that smaller companies wouldn't have access to it (I'm sure it's quite expensive).
- klipt 6y agoIndustrial Engineering / Operations Research studies that kind of problem: https://ieor.berkeley.edu https://ieor.berkeley.edu
- friendlybus 6y agoI used to run a pizza shop, and had the same thought, why not plot some predictions in R? Most of the obvious busy periods the management team was already talking about. It gets really hard to predict when someone is going to solve their hunger with pizza in the next half hour.