13 January 2016
A genetic algorithm – how it can be used in demand forecasting
A genetic algorithm is an attempt to apply excellent laws of nature for the purposes of economy. What is it and how it can be used?
Having in mind the needs of the buyers and sellers using B2B electronic market and enthusiasts of new technologies, purchases and logistics, we created space to exchange ideas and experiences. We share our ideas, and above all, our more than 13-years experience.
A genetic algorithm is an attempt to apply excellent laws of nature for the purposes of economy. What is it and how it can be used?
Demand forecasting is one of the key processes for enterprises that manufacture, distribute and sell material products. In the face of strong market competition, the demand for goods needs to be covered immediately. Therefore, is necessary to always maintain a certain inventory level. However, storage entails different kinds of costs – from logistic-related to depreciation […]
Enterprises, depending on their business profiles, bear additional costs related to prolonged warehousing of products, which include the costs of their physical and moral ageing.
It is frequent for enterprises with expanded distribution networks to face the problem of inaccurate allocation of goods. This may be due to changes in business environment, products ageing or variations in clients’ preferences. To address this challenge, a company may redistribute goods among individual points of sale, bypassing the central warehouse as a physical […]