Optimized inventory management

Inventory management is a key challenge for any company that manages a stock of products or raw materials. Inventory is essential to meet customer demand and maintain operational efficiency, but it can also be expensive. Excess stock can lead to unnecessary working capital…

Implementing a random walk forecast in Python

In previous posts I introduced very simple (and naive) forecasting methods, namely CAGR-based forecasting and simple moving average forecasting. I implemented such forecasting methods in R and demonstrated basic use cases. In this post I want to introduce another simple…

Output forecast with simple moving average

In a previous post I explained CAGR-based forecasting. CAGR-based forecasting is a very simple forecasting method which is often applied in industry, e.g. for forecasting sales and production output. Simple forecasting models have benefits. They are easy to understand and easy…