Developing the 2nd Generation of AIML Models for Demand Planning at Beiersdorf AG
Wednesday, Oct 5, 2022
International FMCG manufacturer Beiersdorf needs to forecast 1000s of products every month. In 2021, 10 years after the 1st Neural Networks were introduced, Beiersdorf set out to improve automatic forecasting further by reviewing the latest developments in technology. Surprisingly, some of the most recent and hyped algorithms such as DeepLearning, XGBoost, Prophet, BSTS and others did not perform well, but simple AI-methods customised to their data properties improved accuracy significantly.