Predicting demand across tens of thousands of product lines
Forecasting algorithms for a major UK retailer, estimating how much of each line would sell, where, and when — the numbers that buying, allocation and markdown decisions were then made against. At that scale a forecast is not one model but a system: seasonality, price changes, newness, and lines with almost no history all have to be handled differently, and the output has to be trusted by people who are not statisticians.
- Scale
- Tens of thousands of product lines, forecast continuously
- Used for
- Buying quantities, allocation, markdown timing
- Applies to
- Any business holding stock, planning production, or committing to orders in advance