In today’s dynamic market environment, the importance of precise sales forecasting cannot be overstated for manufacturing companies striving to optimise operations and maintain a competitive edge. Despite its significance, forecasting remains a formidable challenge, particularly for products with short market lifespans like seasonal fashion items.
Recognising the significance of accurate forecasting, Innico has partnered with FIP-AM@UT to address the challenges posed by the unique complexities of dynamic products. Together, the TRENDY project aims to develop a sophisticated sales forecasting model tailored to meet the specific demands of such products.
The scope of the project encompasses a meticulous analysis of existing forecasting solutions, with a specific emphasis on effectively handling sparse datasets common in fast-changing industries. Through iterative development processes, TRENDY seeks to develop a forecasting model specifically designed to navigate the challenges posed by products with short market lifespans. This not only addresses the immediate needs of Innico but also paves the way for redefining forecasting practices across diverse industries, driving innovation and operational efficiency.
