Question: METHODOLOGYData Analysis:Given the objectives I have provided below and how I plan to solve them. Please provide a detailed methodology of how I can solve
METHODOLOGYData Analysis:Given the objectives I have provided below and how I plan to solve them. Please provide a detailed methodology of how I can solve them for the research proposal. My research topic is optimizing inventory management through data analytics at a pharmaceutical company To develop datadriven strategies aimed at reducing excess stockouts under stocking at stock inventory levels without compromising on product availability. To solve this objective, I was planning on using the software Tableau to draw a table showing how much inventory the company has for each month, and then I would highlight where there is excess inventory, stockouts and under stocking and then address how I can solve where there is under stocking and stockouts To implement predictive analytics models that minimize stockouts and under stocking instances by accurately anticipating demand fluctuations and adjusting inventory levels accordingly. To solve this objective, I was planning to use a time series model. Please provide insight on how I can use the time series model to solve this objective To evaluate their existing inventory management practices within the pharmaceutical company, identifying strengths, weaknesses, and areas for improvement. To solve this objective i am going to look at the inventory management practices that the company is currently using and identify the strengths weaknesses of those practices to justify why the company should use data analytics to improve their inventory management.Further objectives I have given please write a methodology with the information I have given on how I would solve these objectives.
Also provide creditable sources in havard style and use intext referencing.
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