Inventory control aims to meet customer demands at a given service level while minimizing cost. As a result of market volatility, customer demand is generally changing, and ignoring this uncertainty could lead to under or over-estimation of inventories resulting in shortages or inefficiencies....

Demand forecasting is an important aspect in supply chain management that could contribute to enhancing the profit and increasing the efficiency by aligning the supply channels with anticipated demand. In the retail industry, customers and their needs are diverse making demand forecasting a...