Violet has developed a forecasting tool that utilizes AI to estimate the demand for Preem's products. The forecasts now consider multiple variables, including backward-looking factors such as withdrawals during the same period last year and the most recent weeks. The forecast also considers patterns in months, weekends, and weekdays, as well as depot and product trends.
The models are based on Temporal Fusion Transformer and are combined with traditional statistical models. These models generate daily forecasts 45 days ahead for each product and depot. The forecasting tool was implemented in the spring of 2023 and is currently used by depot planners.