Demand Forecasting for Perishable Food Commodities Using Data Analytics

Year : 2024 | Volume : 11 | Issue : 03 | Page : 27 37
    By

    Advaita Menon,

  • Midhir Nambiar,

  • Aman Mishra,

  • Aryan Tiwari,

  • Aditya Kasar,

  1. Student, School of Technology, Management & Engineering, NMIMS University, Navi Mumbai, Maharashtra, India
  2. Student, School of Technology, Management & Engineering, NMIMS University, Navi Mumbai, Maharashtra, India
  3. Student, School of Technology, Management & Engineering, NMIMS University, Navi Mumbai, Maharashtra, India
  4. Student, School of Technology, Management & Engineering, NMIMS University, Navi Mumbai, Maharashtra, India
  5. Assistant Professor, School of Technology, Management & Engineering, NMIMS University, Navi Mumbai, Maharashtra, India

Abstract

This paper introduces a comprehensive study aimed at enhancing the forecasting of perishable food item demand. Focusing on solving the critical issue of waste management within the supply chain of food products, the research undertakes a comparative analysis of various machine learning models. The development of an optimized model that is capable of accurately forecasting the demand for perishable food items is the focus of this research. The research includes a review of the literature on demand, pricing, and production prediction studies carried out in India. It argues that machine learning algorithms can generate accurate forecasts and emphasizes the need for improved supply chain management to reduce waste in the perishable foods business. By underlining the need for modeling techniques in the optimization of supply chains for perishable items, this work increases the understanding of demand forecasting. Each entity involved in the supply chain can reduce waste and maximize inventory management with the help of the paper’s insightful recommendations and proposed mechanism, thereby benefiting through a reduction in the cost of maintenance of the perishable food products.

Keywords: Data analytics, machine learning, regression, demand forecasting, supply chain, food waste, perishable food commodities

[This article belongs to Journal of Software Engineering Tools & Technology Trends ]

How to cite this article:
Advaita Menon, Midhir Nambiar, Aman Mishra, Aryan Tiwari, Aditya Kasar. Demand Forecasting for Perishable Food Commodities Using Data Analytics. Journal of Software Engineering Tools & Technology Trends. 2024; 11(03):27-37.
How to cite this URL:
Advaita Menon, Midhir Nambiar, Aman Mishra, Aryan Tiwari, Aditya Kasar. Demand Forecasting for Perishable Food Commodities Using Data Analytics. Journal of Software Engineering Tools & Technology Trends. 2024; 11(03):27-37. Available from: https://journals.stmjournals.com/josettt/article=2024/view=172133


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Regular Issue Subscription Review Article
Volume 11
Issue 03
Received 28/06/2024
Accepted 21/08/2024
Published 14/09/2024
614

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