AI-Driven Inventory Demand Forecasting

Open
DansFarmaRoot
Toronto, Ontario, Canada
Owner
(78)
4
Project
Academic experience
200 hours per student
Student
Anywhere
Intermediate level

Project scope

Categories
Data analysis Data modelling Machine learning Artificial intelligence Data science
Skills
predictive modeling inventory management market trend performance appraisal machine learning demand forecasting data analysis predictive analytics sales data collection
Details

DansFarmaRoot is seeking to enhance its inventory management through the implementation of AI predictive analytics. The primary goal of this project is to develop machine learning models that can accurately forecast product demand by analyzing historical sales data, market trends, and external factors such as seasonality and market conditions. By predicting future demand more accurately, DansFarmaRoot aims to optimize inventory levels, thereby reducing instances of stockouts and overstock situations. This project will provide learners with the opportunity to apply their classroom knowledge of machine learning, data analysis, and predictive modeling to a real-world business problem. The tasks will include data collection and preprocessing, model selection and training, and performance evaluation.

Deliverables

- A comprehensive report detailing the data collection and preprocessing steps, including any challenges faced and how they were addressed.


- A set of trained machine learning models capable of predicting product demand based on historical sales data and external factors.


- A performance evaluation report comparing the accuracy and effectiveness of different models.


- A presentation summarizing the project findings, methodologies used, and recommendations for future improvements.

Mentorship

At DansFarmaRoot, we are committed to providing comprehensive support and mentorship to our co-op students. Our team will allocate dedicated staff time to guide and mentor students, ensuring they receive personalized assistance throughout their projects. Students will have access to advanced tools and technology, including our AI-driven infrastructure, to enhance their learning experience. Additionally, they will have access to real-time data and analytics, enabling them to make data-driven decisions and gain practical insights. Regular feedback sessions, workshops, and training programs will further support their development, ensuring they successfully complete their projects and gain valuable industry experience.

Supported causes
Good health and well-being

About the company

Company
Toronto, Ontario, Canada
2 - 10 employees
Consumer goods & services, Food & beverage, Marketing & advertising, Sales, Trade & international business

DansFarmaRoot is an innovative Canadian Ginseng farm-to-table nutraceutical company committed to enhancing daily performance and well-being through natural, effective, and scientifically supported supplements.

Our dedication to quality starts at the source with Canadian-grown ginseng, ensuring the highest potency and purity in every product. Leveraging cutting-edge AI technology, our flagship, award-winning product, DFENERGY, sets a new benchmark in the health and wellness industry.

Our commitment to innovation is exemplified by our record-setting onboarding of University co-op students, who infuse our team with fresh ideas and cutting-edge strategies.

At DansFarmaRoot, we are not just revolutionizing the health and wellness industry; we are setting a new standard for how small businesses integrate AI into their ecosystems.