Procurement Budget Forecasting of Low-value Consumables in Colleges and Universities based on Machine Learning

In order to improve the procurement budget forecasting effect of low-value consumables in colleges and universities, this paper applies machine learning algorithm to the procurement budget process. This paper proposes a method of constructing the value index of low-value consumables combined with machine learning. Through the value index of low-value consumables, the due value of low-value consumables in the laboratory can be reflected, and then the low-value consumables with similar value range of low-value consumables value index can be clustered to form a systematic management object set, and the low-value consumables with larger value index can be managed in a targeted manner. Combined with the experimental research, it can be seen that the purchase budget forecasting model of low-value consumables in colleges and universities based on machine learning proposed in this paper has certain effects, and can optimize and improve the management system and system of laboratories in colleges and universities, so as to improve the level and quality of laboratory management in colleges and universities.