Review on Balanced Supply Chain for Better Prediction in Demand
Abstract
Using artificial intelligence (AI) and machine learning to improve demand forecasting is one of the most promising applications of AI for supply chains. The technology “learns” from past experience and can analyze the multitude of complex relationships and factors that influence product demand. This paper discusses various methodologies involved in supply chain management. AI can source and process data from many different areas and forecast future demand based on external factors. This feeds into supply and demand planning and product development. The overall objective of this project was to examine how AI could be applied to SCM and what benefits this could enclose. By interviewing people working with SCM, problems within the area and desired solutions could be mapped.
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