Inventory Prediction in a Food-Processing-and-Distribution Company

A food-processing-and-distribution company typically stores products in a warehouse before shipping them to customers. Inventory management is therefore important to the food-processing-and-distribution industry because of the large amount of products typically stored. Large amounts of stored products increase inventory cost and management cost and can reduce warehouse efficiency. This study is important to build up a system to predict possible forthcoming inventory. This study surveyed experts to identify key issues associated with inventory management in the food-processing-and-distribution industry. Through this proposed prediction model, the best accuracy of inventory prediction could reach up to 66.3%. Through the sequential patterns based on expert opinions, the food-processing-and-distribution industry can manage inventory efficiently and accurately.