CMAF Friday Forecasting Talk: Using Internet-of-Things Data at the Point-of-Consumption for Demand Forecasting and Inventory Management
Friday 14 January 2022, 2:00pm to 3:00pm
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Event Details
CMAF Friday Forecasting Talk
The abstract: Internet-of-Things (IoT) systems that monitor inventories and sales are the next technological advancement in demand forecasting and replenishment. Unlike traditional systems that record purchases at the point-of-sale, these novel systems can track product usage via smart connected devices at the point-of-consumption, i.e., directly at the end user. This usage data promises to be a valuable basis for automated ordering and replenishment processes. We study such a system in the context of professional coffee machines and use a large data set from a leading service provider to develop models for demand forecasting, inventory management and handling inventory inaccuracy.
Speaker
Kühne Logistics University in Hamburg
Kai Hoberg is Head of Department of Operations and Technology and Professor of Supply Chain and Operations Strategy at Kühne Logistics University in Hamburg, Germany. Prior, he was Assistant Professor at the University of Cologne and project manager in the operations team of Booz & Company. He was a visiting scholar at universities such as Cornell University, Israel Institute of Technology, or University of Oxford.
Contact Details
| Name | Teresa Aldren |
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