Predicting medicine demand using deep learning techniques: A review

Abstract

Abstract The supply and storage of drugs are critical components of the medical industry and distribution. The shelf life of most medications is predetermined. When medicines are supplied in large quantities it is exceeding actual need, and long-term drug storage results. If demand is lower than necessary, this has an impact on consumer happiness and medicine marketing. Therefore, it is necessary to find a way to predict the actual quantity required for the organization’s needs to avoid material spoilage and storage problems. A mathematical prediction model is required to assist any management in achieving the required availability of medicines for customers and safe storage of medicines. Artificial intelligence applications and predictive modeling have used machine learning (ML) and deep learning algorithms to build prediction models. This model allows for the optimization of inventory levels, thus reducing costs and potentially increasing sales. Various measures, such as mean squared error, mean absolute squared error, root mean squared error, and others, are used to evaluate the prediction model. This study aims to review ML and deep learning approaches of forecasting to obtain the highest accuracy in the process of forecasting future demand for pharmaceuticals. Because of the lack of data, they could not use complex models for prediction. Even when there is a long history of accessible demand data, these problems still exist because the old data may not be very useful when it changes the market climate.