Authors

1. Mr. Saurab Dutta
2. Ms. Payel Roy
3. Mr. Ravi Kumar
4. Mr. Raj Anand

Affiliation

• Assistant Professor, Dept. of Comp. Eng., Poomima University, Jaipur
• Dept. of CA, JIS College of Engineering, West Bengal
• Assistant Professor, Dept. of Comp. Eng., Poornima University, Jaipur
• Assistant Professor, Dept. of Comp. Eng., Poornima University, Jaipur

Abstract

Inventory management is one of the keyfactors for providing quality service intime. Today's world requires quality service in reduced time. So to maintain this, efficient inventory management business strategy is required. In today's cut and throat competition if quality service is provided in reduced time and cost, it will enhance the business profit as well as the customer's satisfaction. Inthis paper we have analyzed the data to formulate astrategy to manage and transfer the inventory stock for the product. We have also created a predictive analysis by using asample data to experiment the successful implementation of our strategy. Based on the prediction we can decide about the future business strategy which can reduce cost and time for that business process. Now-a-days prediction analysis is one of the important aspects for achieving targets within right time limit. If the organization cannot analyze the business requirements then organization may fall behind. Here we have taken help of GMDH shell software which predicts the demands and analyses the future requirements and then also we have tallied the results of this software with multinomial polynomial prediction using R to see the correlation of both predictions. In multinomial polynomial curve, we fit the different parameters. Based on that one prediction value is generated and that predicted value in turn helps us to compare the results and also to analyze results. We want to see also the standard deviation from actual results in both cases to analyze the software results.

Keywords

Inventory Management, Quality Service, GMDH Software, Business Management.

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