AI-Driven Demand Forecasting for Optimal Supply Chain Management

During the internship, Tiffanie explored the limitations of traditional demand forecasting methods and their underlying causes. She identified multiple challenges faced by the company, such as intense competition, bias and errors in human judgment, and various demand-influencing factors. To address these limitations, Tiffanie delved into machine learning with the guidance of a data scientist. With support from her supervisor and industry contacts, she developed a customized machine learning-based demand forecasting approach for the FMCG industry. This approach considers product relationships and economic indicators, resulting in highly accurate predictions for fragrance, makeup, and skincare demand. The application of this model has the potential to revolutionize supply chain management, ensuring timely provision of products to meet customer demand. The model's potential to transform the industry is further validated by endorsement letters from renowned companies.

Ms. LI Pik Kei Tiffanie
BBA (Hons) Internation Shipping and Transport Logistics
Faculty of Business

Awards:

1st Runner Up, Health Future Challenge 2022
Co-Innovation Award, Health Future Challenge 2022

Domain Expertise:

International Shipping and Transport Logistics

Tiffanie is pursuing a Bachelor of Business Administration (Honours) majoring in International Shipping and Transport Logistics (ISTL). This program equips her with practical skills, academic knowledge, and professional expertise in the field of logistics and supply chain management.

Innovation and Entrepreneurship

Tiffanie has participated in numerous innovation and entrepreneurial competitions, earning 25 awards and scholarships. These experiences demonstrate her knowledge and skills in identifying opportunities, developing unique business solutions, and pitching ideas to a panel of judges.

Business Communication and Leadership

Tiffanie mentions the importance of communication and leadership skills in the business world. She highlights how participating in competitions enhances her ability to communicate effectively, present ideas persuasively, and lead teams. These skills are crucial in various aspects of business, including pitching, problem-solving, and collaboration.

Data Analysis and Artificial Intelligence

Tiffanie showcases her knowledge and skills in data analysis and artificial intelligence through her internship experience. She describes how she used Python to automate report generation, saving time and reducing human error. Her understanding of machine learning methods and developing AI models demonstrates her expertise in leveraging technology to address industry challenges.

Supply Chain Management and Demand Forecasting

Tiffanie's internship experience in L'Oréal involved developing a machine learning-based demand forecasting approach for the FMCG industry. This showcases her knowledge in supply chain management and her ability to overcome limitations in traditional forecasting methods. Her project's aim to improve decision-making and ensure product availability highlights her understanding of supply chain dynamics and the importance of accurate demand forecasting.

Lifelong Learning Excellence:

Communication and Presentation Skills

Tiffanie recognizes the benefits of participating in competitions, which include enhancing her communication and leadership skills. Competitions provide opportunities for students to improve their abilities to effectively communicate ideas, present solutions, and lead teams.

Resourcefulness and Adaptability to New Contexts

Competitions offer a unique opportunity for students to apply theoretical concepts and practical knowledge learned in the classroom to real-world scenarios. Tiffanie mentions that participating in competitions allows her to utilize the knowledge she gained during her studies in a practical setting, providing a valuable learning experience.

Critical Thinking and Problem-solving

Tiffanie expresses her interest in competitions that require problem-solving, as they help her develop critical thinking and analytical skills. Competitions often present complex problems or challenges that require innovative solutions, encouraging participants to think creatively and develop problem-solving abilities.
Tiffanie demonstrates her ability to manage her time effectively by taking on additional responsibilities during her internship when her teammate left the team. She prioritized tasks, coordinated with teammates, and ensured everyone was aware of her priorities, enabling her to meet deadlines and successfully complete the project.

Adaptability and Flexibility

Tiffanie recounts a situation during her internship where she had to adapt and take over the role of a teammate who quit the team before a competition. This experience taught her the value of adaptability and flexibility in the face of unexpected challenges or changes in team dynamics.

Project Management and Teamwork

Competitions often involve teamwork and collaboration. Tiffanie mentions leading a team and collaborating with teammates from diverse backgrounds during a competition. Working effectively in a team setting, coordinating efforts, and leveraging the strengths of each team member are important skills developed through such experiences.

Creativity & Innovation

Tiffanie's participation in competitions and internship experiences has allowed her to explore innovative solutions to industry challenges. She mentions using Python programming to automate report generation during her internship and developing a machine learning-based demand forecasting approach for the FMCG industry. These experiences highlight her ability to think innovatively and apply creative solutions to practical problems.

Learning-to-learn

Tiffanie's active participation in competitions, internships, and various learning opportunities demonstrates her commitment to continuous learning and personal growth. She advises junior students to stay curious, explore new things, and not be afraid to take risks, emphasizing the importance of seizing opportunities and striving for more than simple accomplishments.

Inspiring Quotes:

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