AI for Forecasting and Demand Planning
We face a remarkable digital transformation, creating new opportunities through big data and artificial intelligence (AI). This is particularly true for demand forecasting and planning, where the recent surge in data has prompted a paradigm shift. Historically, forecasting was dominated by simple statistical forecasting methods. However, machine learning-based forecasting has recently outperformed all sales forecasting competitions with superior performance. Despite these advancements, most companies still rely heavily on simple statistical forecasting techniques.
Praktische info:
Inschrijven?
- Inschrijvingen: tot 11 jan 2024
- Prijs: €30–€45 (see Additional information below)
georganiseerd door:
In this seminar, three experts share their knowledge and experience using AI in forecasting and demand planning. We showcase the effectiveness of AI forecasting using tree-based machine learning and outline the conditions in which these methods surpass popular statistical approaches. Next, we will explore the essential elements of a good AI demand/sales forecast beyond mere accuracy, delving into probability forecasting, explainability, stability, and more. Finally, we provide a guide for achieving demand planning excellence through objectives, data, metrics, models, and enrichment. We also discuss how teams can enrich ML-generated forecasts using the famous forecast value-added framework.
These three experts are Arnoud Wellens (Postdoctoral researcher in forecasting, KU Leuven), Ruben Crevits (Lead data scientist, OMP, PhD in forecasting) and Nicolas Vandeput (Supply chain data scientist, CEO & founder, Author).
Programme
- 18:30 Registration and sandwiches
- 19:00 Seminar
- 21:00 Networking drink
Additional information
Registration
- Ekonomika Alumni/PICS members: €30
- Non-members: €45
Registration is possible until Thursday 11 January.
Location
- Faculteit FEB, entrance hall of Huis van 't Sestich, HOGS 00.10 (reception and closing network drink afterwards)
- Faculteit FEB, Huis De Munter, HOG 00.85 (presentation)
Accessibility
- By train: 15-minute walk from Leuven train station (via Stadspark)
- By car: parking spaces on Vlamingenstraat, 30m from the intersection with Parkstraat
Contact
Do you have a question or would you like to have more information? Send an e-mail to ekonomika-alumni@kuleuven.be
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