Tasks
- Implement AI/ML solutions to forecast material consumption and sales, optimizing procurement, supply chain, and production quantities in the Pharma industry.
Forecasting material consumption and sales
Challenges
Solutions
- Implement ARIMA and LSTM models for time series forecasting of material usage and sales.
- Integrate models with ERP and CRM systems for seamless data flow.
- Establish a robust data governance framework.
- Enable continuous model retraining to adapt to market changes.
- Enhance procurement planning and production schedules to reduce material waste.
Outcomes
- Achieve a 10-15% reduction in material waste, improving overall efficiency and reducing costs.
Technologies Used
LSTM
Integration with ERP and CRM systems
Data Governance Framework
