Walmart Inc.
Systems and methods of utilizing multiple forecast models in forecasting customer demands for products at retail facilities

Abstract:

In some embodiments, apparatuses and methods are provided herein useful to forecasting product demand. In some embodiments, a system comprise a forecasting control circuit to: apply each of a plurality of different models to forecast demand of a first product over a first historic period generating historic forecasted demands of the first product, wherein at least a first model uses selected one or more variables that are predicted to have an uncharacteristic effect on predicted demand; select one of the models and apply the model in generating a forecasted future demand, wherein the selection of the model is based on a difference between each of the generated historic forecasted demands and actual sales; and identify actions to modify inventory of the first product at the first shopping facility based on the forecasted future demand.