Machine Learning Techniques And Predictive Modeling For Retail Inventory Management Systems.

Abstract

This paper is a study to see if machine learning techniques can be helpful in the management of retail inventory. It deals with the topics on supply chain efficiency improvement, inventory level allocation, and the use of advanced prediction models for demand forecasting. Some of the highlighted advantages that come with the minds are that the costs can be reduced, the customers will be made to feel happy, and the company’s profits can be higher. Diversity and accessibility of the labels are also discussed as well as the research objectives and ethical issues regarding the emergence of the more complex machine learning applications are considered. The paper concludes with highlighting the importance of integrating effective planning and analysis procedures based on data to enhance inventory management strategies’ effectiveness and innovation.