Design and implementation of forecasting models to estimate the beverage demand in convenience stores

Abstract

This research was carried out for a Commercial Chain of Convenience Stores in order to increase the potential of its demand forecasting models and thus improve its logistics planning and decision making. Additionally, in 2018, the company noticed a significant increase in the level of its sales during a heat wave that was experienced in the country. For this reason, it was necessary to improve the forecasting models and validate the importance of external variables. Different univariate and multivariate forecasting models were built and validated, and then two were selected to propose the most suitable forecasting method and a final application.