Dear All,
I have a question relating to what approach to take
for the following problem.
Suppose a company is making a product which itself
might include around upto 30 or so subproducts
depending on what the customer wants. The company is
also responsible for making the subproducts. Now the
company faces the issue in delivering the finished
product in time as it also has to manufacture the
subproducts. Now if the company seeing competition
decides to decrease the delivery time by storing the
right subproducts which will have higher demand in
their store, then how should it go about in analyzing
it and what kind of data might be required for the
analysis.
Any insight would be very helpful. I think the company
needs to do some inventory management. But to do that
it needs to have an idea of the demand curve for each
of the subproducts. Is there any other approach that
can be followed here. I have heard that neural
networks are applied sometimes but have no idea of how
to implement it.
Thanks in advance,
Indrajit Sen Gupta
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