ARTIFICIAL INTELLIGENCE IN SUPPLY CHAIN: REVOLUTIONIZING FORECASTING AND DECISION-MAKING

Prakash Divakaran; Vandana Mishra Chaturvedi

doi:10.29121/ijetmr.v11.i1.2024.1641

ARTIFICIAL INTELLIGENCE IN SUPPLY CHAIN: REVOLUTIONIZING FORECASTING AND DECISION-MAKING

Authors

Dr. Prakash Divakaran Pro-Vice Chancelor, & Professor, Department of Business Administration Himalayan University, Itanagar, Arunachal Pradesh.
Dr. Vandana Mishra Chaturvedi Vice-Chancellor, D Y Patil Deemed to be University, Sector -7, Vidya Nagar, Nerul, Navi Mumbai-400706

DOI:

https://doi.org/10.29121/ijetmr.v11.i1.2024.1641

Keywords:

Ai and Supply Chain Planning, Technological, Digital Security and Privacy, Digital Environment, Technology Privacy

Abstract

Within the realm of supply chain management, Artificial Intelligence (AI) has emerged as a game-changing technology that has the potential to revolutionize forecasting as well as the decision-making process. This study investigates the use of artificial intelligence (AI) in the operations of supply chains, as well as its influence on the accuracy of demand forecasting, planning, inventory management, and decision-making. This article goes into the numerous artificial intelligence approaches, such as machine learning, natural language processing, and predictive analytics, that are used to analyze massive volumes of data and provide meaningful insights. The study also examines the advantages and problems connected with integrating AI in supply chains. These include the quality of the data, the needs for the infrastructure, and the preparedness of the organizations. In addition to this, it provides real-world examples and case studies that illustrate the effective uses of AI in supply chain management. The results highlight the potential for AI to increase customer service, improve supply chain efficiency, optimize inventory levels, and allow proactive decision-making. It is anticipated that as AI continues to make advances, it will transform supply chain procedures and provide firms with the ability to react to an increasingly complex and volatile economic environment.

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References

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Published

2024-01-31

How to Cite

Divakaran, P., & Chaturvedi, V. M. (2024). ARTIFICIAL INTELLIGENCE IN SUPPLY CHAIN: REVOLUTIONIZING FORECASTING AND DECISION-MAKING. International Journal of Engineering Technologies and Management Research, 11(1), 34–41. https://doi.org/10.29121/ijetmr.v11.i1.2024.1641

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Issue

Vol. 11 No. 1 (2024): IJETMR: Volume 11 Issue 1 January, 2024

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Articles

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