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IMPLICATIONS OF AI FOR SALES FORECASTING IN THE FOOD AND BEVERAGE INDUSTRY: PROS AND CONS

  • Unique Paper ID: 174194
  • Volume: 11
  • Issue: 10
  • PageNo: 2932-2934
  • Abstract:
  • Sales forecasting is a vital activity in the food and beverage sector, influencing production, inventory management, and overall business strategy. The implementation of Artificial Intelligence (AI) into sales forecasting practises has shown tremendous potential in terms of improving accuracy and efficiency. This research paper investigates the advantages and disadvantages of using AI for sales forecasting, specifically in the food and beverage industry. This paper examines real-world scenarios and industry insights to shed light on how AI-driven forecasting may improve decision-making, optimise supply chain operations, and drive competitive advantage. While the benefits are obvious, difficulties like, model interpretability, data complexity, and ethical considerations must also be addressed to enable responsible and effective adoption.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 10
  • PageNo: 2932-2934

IMPLICATIONS OF AI FOR SALES FORECASTING IN THE FOOD AND BEVERAGE INDUSTRY: PROS AND CONS

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