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Open Access Journal Article

Predictive Analytics for Inventory Management

by Emma Jackson 1,*
1
Emma Jackson
*
Author to whom correspondence should be addressed.
MAD  2021 3(2):22; https://doi.org/10.69610/j.mad.20210830
Received: 11 June 2021 / Accepted: 22 July 2020 / Published Online: 30 August 2021
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Abstract

Predictive analytics has become an invaluable tool for businesses aiming to optimize their inventory management strategies. The present paper explores the integration of predictive analytics into inventory systems, highlighting its role in reducing costs, improving customer satisfaction, and streamlining operations. By leveraging historical data, predictive models are capable of forecasting future demand, inventory levels, and supply chain disruptions. This study examines various predictive analytics techniques, such as time-series analysis, machine learning, and artificial intelligence, to identify the most effective methods for inventory management. The paper further discusses the challenges and limitations associated with predictive analytics in inventory systems and proposes recommendations for best practices. Ultimately, this research underscores the importance of incorporating predictive analytics into inventory management to enhance decision-making and foster sustainable business growth.

Keywords: Predictive Analytics; Inventory Management; Demand Forecasting; Supply Chain Optimization; Machine Learning.;
Copyright: © 2021 by Jackson. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
Cite This Paper
APA Style
Jackson, E. (2021). Predictive Analytics for Inventory Management. Management Analytics and Decision, 3(2), 22. doi:10.69610/j.mad.20210830
ACS Style
Jackson, E. Predictive Analytics for Inventory Management. Management Analytics and Decision, 2021, 3, 22. doi:10.69610/j.mad.20210830
AMA Style
Jackson E. Predictive Analytics for Inventory Management. Management Analytics and Decision; 2021, 3(2):22. doi:10.69610/j.mad.20210830
Chicago/Turabian Style
Jackson, Emma 2021. "Predictive Analytics for Inventory Management" Management Analytics and Decision 3, no.2:22. doi:10.69610/j.mad.20210830

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ACS Style
Jackson, E. Predictive Analytics for Inventory Management. Management Analytics and Decision, 2021, 3, 22. doi:10.69610/j.mad.20210830
AMA Style
Jackson E. Predictive Analytics for Inventory Management. Management Analytics and Decision; 2021, 3(2):22. doi:10.69610/j.mad.20210830
Chicago/Turabian Style
Jackson, Emma 2021. "Predictive Analytics for Inventory Management" Management Analytics and Decision 3, no.2:22. doi:10.69610/j.mad.20210830
APA style
Jackson, E. (2021). Predictive Analytics for Inventory Management. Management Analytics and Decision, 3(2), 22. doi:10.69610/j.mad.20210830

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