Fix Forecast Accuracy in Inventory Management
Budget: $30 – $250 USD
We’re working on our senior project in collaboration with a Company.
Our project focuses on a forecast accuracy issue in inventory management across their three warehouses located in Riyadh, Jeddah, and Dammam.
The issue is that sometimes shipments arrive at a specific branch (for example, Riyadh), while there’s a shortage in Jeddah, so they have to transfer goods from Riyadh to Jeddah, which is costly. Ideally, there should be accurate forecasting from the start to distribute products properly to each warehouse.
Each warehouse is supposed to cover the surrounding areas — for example, Dammam covers Abha.
Also, they have many types of customers: supermarkets, small groceries, and individuals.
All of this data was provided in an Excel file that we worked on.
The company sent us detailed data for the years 2022, 2023, and 2024.
Based on that, we’re supposed to calculate the following for 2024:
• Monthly Forecast
• Forecast Accuracy
• Forecast Error
We are also expected to write a report covering all the steps we took.
However, we’re facing an issue with the final step — you’ll see in the Excel file that the Actual Forecast table is showing zeros, which is a mistake we couldn’t fix.
If you know how to help us with it, that would be great — it should be a simple fix.
The report is supposed to include:
• Problem definition
• Steps we took
• Proposed solutions
• Data analysis
• Tables and visual charts
Our project focuses on a forecast accuracy issue in inventory management across their three warehouses located in Riyadh, Jeddah, and Dammam.
The issue is that sometimes shipments arrive at a specific branch (for example, Riyadh), while there’s a shortage in Jeddah, so they have to transfer goods from Riyadh to Jeddah, which is costly. Ideally, there should be accurate forecasting from the start to distribute products properly to each warehouse.
Each warehouse is supposed to cover the surrounding areas — for example, Dammam covers Abha.
Also, they have many types of customers: supermarkets, small groceries, and individuals.
All of this data was provided in an Excel file that we worked on.
The company sent us detailed data for the years 2022, 2023, and 2024.
Based on that, we’re supposed to calculate the following for 2024:
• Monthly Forecast
• Forecast Accuracy
• Forecast Error
We are also expected to write a report covering all the steps we took.
However, we’re facing an issue with the final step — you’ll see in the Excel file that the Actual Forecast table is showing zeros, which is a mistake we couldn’t fix.
If you know how to help us with it, that would be great — it should be a simple fix.
The report is supposed to include:
• Problem definition
• Steps we took
• Proposed solutions
• Data analysis
• Tables and visual charts