Predicting demand and inventory shortages for better inventory management in health care institutions
This project aims to predict demand and inventory shortages for better inventory management in health care institutions. This will initially allow for a reduction in the expenses generated by emergency orders placed during a stock shortage. Indeed, it will be possible for the establishment to order a larger quantity of the product from the supplier or to place an order with another supplier. In a second step, placing orders at the right time based on demand forecasting will reduce out-of-stock situations but also optimize the minimum and maximum quantities in inventory.
Better inventory management through greater proactivity indirectly provides peace of mind for the staff and therefore for the patient being cared for.