Sales Prediction of Cardiac Products by Time Series and Deep Learning

Abstract

Maintaining inventory level to avoid high inventory costs is an issue for Cardiac Product Distribution Companies (CPDCs) because of the shortage of their products which affect their sale and causes loss of the customer. This research aims to provide a method for predicting the upcoming demand of the Balloon and Stents by using time series analysis (Auto Regression Integrated Moving Average) and Deep learning (Long-Short Term Memory). To conduct this research, data was collected from Pakistan’s leading cardiac product distributors to determine the method's performance. The findings were compared using Mean absolute error (MAE) and Root Mean Square Error (RMSE). Result conclude that the ARIMA algorithm successfully forecasts cardiac products sale.