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AI and Supply Chain Management: Revolutionizing Logistics and Operations
Author: Dr. Anya Sharma, PhD, Professor of Operations Management and AI, MIT Sloan School of Management. Dr. Sharma has over 15 years of experience researching and consulting on the application of artificial intelligence in supply chain optimization.
Publisher: MIT Sloan Management Review, a leading publication known for its insightful analysis of management trends and technological advancements, including the intersection of AI and supply chain management.
Editor: David Lee, Senior Editor, MIT Sloan Management Review, with 20 years of experience editing publications focused on technological innovation and business strategy.
Keywords: AI and supply chain management, artificial intelligence in supply chain, supply chain optimization, AI-powered supply chain, predictive analytics, machine learning supply chain, AI in logistics, supply chain visibility, AI for inventory management, digital supply chain, intelligent automation, supply chain risk management, AI-driven decision making
Abstract: The integration of artificial intelligence (AI) and supply chain management is rapidly transforming the way businesses operate. This article provides a comprehensive overview of how AI is being used to optimize various aspects of the supply chain, from forecasting demand and managing inventory to improving logistics and enhancing risk management. We examine the various AI technologies involved, discuss the challenges of implementation, and explore the future potential of AI and supply chain management.
1. Introduction: The Rise of AI in Supply Chain Management
The global supply chain is a complex network of interconnected activities, encompassing everything from sourcing raw materials to delivering finished goods to consumers. Traditional supply chain management relies heavily on historical data and human expertise, but these approaches often struggle to keep pace with the dynamic and unpredictable nature of modern markets. This is where AI and supply chain management converge. AI, with its ability to analyze vast datasets, identify patterns, and make predictions, is revolutionizing the sector, offering unparalleled opportunities for efficiency, resilience, and profitability. The convergence of AI and supply chain management promises a more agile, responsive, and intelligent supply chain ecosystem.
2. AI Technologies Transforming Supply Chain Management
Several AI technologies are transforming how we approach AI and supply chain management:
Predictive Analytics: Utilizing machine learning algorithms to forecast demand, predict potential disruptions, and optimize inventory levels. AI and supply chain management applications of predictive analytics significantly reduce stockouts and overstocking, leading to cost savings and improved customer satisfaction.
Machine Learning (ML): ML algorithms learn from data to improve their performance over time, enabling more accurate forecasting, better route optimization, and more effective anomaly detection in supply chain processes. The use of ML in AI and supply chain management is essential for continuous improvement and adaptation.
Deep Learning (DL): A subset of ML, DL utilizes artificial neural networks with multiple layers to analyze complex data, offering advancements in image recognition for quality control and natural language processing for improved communication within the supply chain. The advanced capabilities of DL are crucial for handling the increasing complexity of data in modern AI and supply chain management.
Computer Vision: Analyzing images and videos to automate tasks such as quality inspection, damage detection, and warehouse automation. This technology is rapidly becoming an integral component of AI and supply chain management, improving efficiency and reducing errors.
Natural Language Processing (NLP): Processing and understanding human language to automate tasks such as order processing, customer service, and supplier communication. The application of NLP enhances communication and collaboration within AI and supply chain management.
3. Applications of AI in Supply Chain Management
The applications of AI within supply chain management are vast and continually expanding:
Demand Forecasting: AI algorithms analyze historical sales data, market trends, and external factors to provide more accurate demand predictions, reducing forecasting errors and improving inventory management.
Inventory Optimization: AI-powered systems optimize inventory levels by considering factors such as demand forecasts, lead times, and storage costs, minimizing holding costs and preventing stockouts.
Logistics and Transportation: AI optimizes transportation routes, schedules deliveries, and manages fleets more efficiently, reducing transportation costs and improving delivery times.
Supply Chain Risk Management: AI systems identify and assess potential risks, such as supplier disruptions or natural disasters, allowing businesses to proactively mitigate these risks.
Warehouse Management: AI-powered robots and automated systems improve warehouse efficiency, optimize storage space, and accelerate order fulfillment.
Supplier Relationship Management (SRM): AI enhances communication and collaboration with suppliers, leading to improved supplier performance and reduced risk.
Quality Control: AI-powered systems automate quality inspections, identifying defects and ensuring product quality.
4. Challenges and Considerations in Implementing AI in Supply Chain Management
Despite the significant potential benefits, implementing AI in supply chain management presents several challenges:
Data Availability and Quality: AI algorithms require large amounts of high-quality data to function effectively. Many companies lack the necessary data infrastructure or data quality.
Integration with Existing Systems: Integrating AI systems with legacy systems can be complex and costly.
Cost of Implementation: The initial investment in AI technologies and expertise can be substantial.
Lack of Skilled Workforce: A shortage of professionals with the necessary skills to develop, implement, and manage AI systems presents a significant hurdle.
Ethical Considerations: Concerns around data privacy, algorithmic bias, and job displacement need careful consideration.
5. The Future of AI and Supply Chain Management
The future of AI and supply chain management is bright. We can expect to see even more sophisticated applications of AI, including:
Increased Automation: Further automation of tasks across the supply chain, leading to increased efficiency and reduced costs.
Enhanced Visibility and Transparency: Improved visibility into the entire supply chain, enabling better decision-making and risk management.
Greater Resilience: More resilient supply chains that are better able to withstand disruptions.
Sustainable Supply Chains: AI can play a vital role in creating more sustainable supply chains by optimizing resource utilization and reducing waste.
Hyper-Personalization: AI enabling hyper-personalized supply chains, tailoring products and services to individual customer needs.
6. Conclusion
AI and supply chain management are inextricably linked. The integration of AI technologies offers a transformative opportunity to optimize supply chain operations, enhance efficiency, improve decision-making, and build more resilient and sustainable supply chains. While challenges remain, the potential benefits far outweigh the risks, making AI a critical component of future supply chain strategies. Embracing AI and supply chain management is no longer a matter of choice, but a necessity for competitiveness in today's rapidly evolving business landscape.
FAQs
1. What are the main benefits of using AI in supply chain management? Improved forecasting accuracy, optimized inventory levels, reduced transportation costs, enhanced risk management, and increased efficiency.
2. What types of AI technologies are commonly used in supply chain management? Predictive analytics, machine learning, deep learning, computer vision, and natural language processing.
3. What are the biggest challenges in implementing AI in supply chain management? Data availability and quality, integration with existing systems, cost of implementation, and lack of skilled workforce.
4. How can companies overcome the challenges of implementing AI in supply chain management? Investing in data infrastructure, partnering with AI specialists, and developing a skilled workforce.
5. What is the ROI of implementing AI in supply chain management? The ROI varies depending on the specific application and implementation, but significant cost savings and revenue improvements are possible.
6. How does AI improve supply chain visibility? AI provides real-time insights into various aspects of the supply chain, enhancing transparency and enabling proactive decision-making.
7. How can AI help reduce supply chain risks? AI identifies and assesses potential risks, allowing businesses to develop mitigation strategies and improve resilience.
8. What ethical considerations should companies address when using AI in supply chain management? Data privacy, algorithmic bias, and the impact on employment.
9. What is the future of AI and supply chain management? Increased automation, enhanced visibility, greater resilience, sustainable supply chains, and hyper-personalization.
Related Articles:
1. "AI-Powered Demand Forecasting: A Practical Guide": This article provides a step-by-step guide on how to implement AI-powered demand forecasting in your supply chain.
2. "Optimizing Logistics with Machine Learning: Case Studies": This article presents real-world case studies showcasing the successful application of machine learning in logistics optimization.
3. "The Role of Deep Learning in Supply Chain Risk Management": This article explores the use of deep learning algorithms for identifying and mitigating supply chain risks.
4. "Building a Resilient Supply Chain with AI: Strategies and Best Practices": This article provides practical strategies and best practices for building a more resilient supply chain using AI.
5. "AI and the Future of Warehouse Automation": This article discusses the latest advancements in AI-powered warehouse automation and their impact on supply chain efficiency.
6. "Ethical Considerations in AI-Driven Supply Chain Management": This article explores the ethical implications of using AI in supply chain management.
7. "The Impact of AI on Supply Chain Sustainability": This article examines how AI can contribute to building more sustainable supply chains.
8. "Overcoming the Challenges of AI Implementation in Supply Chains": This article provides practical solutions for overcoming the common challenges of implementing AI in supply chains.
9. "Measuring the ROI of AI in Supply Chain Management": This article provides a framework for measuring the return on investment of AI initiatives in supply chain management.
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ai and supply chain management: Guide to Supply Chain Management David Steven Jacoby, The Economist, 2014-02-25 Globalization, technology and an increasingly competitive business environment have encouraged huge changes in what is known as supply chain management, the art of sourcing components and delivering finished goods to the customer as cost effectively and efficiently as possible. Dell transformed the way people bought and were able to customize computers. Wal-Mart and Tesco have used their huge buying power and logistical skills to ensure the supply and stock management of their stores is finely honed. Manufacturers now make sure that components are where they are needed on the production line just in time for when they are needed and no longer. Such finessing of the way the supply chain works boosts the corporate bottom line and can make the difference between being a market leader or an also ran. This guide explores all the different aspects of supply chain management and gives hundreds of real life examples of what firms have achieved in the field. |
ai and supply chain management: Data-Driven Technologies and Artificial Intelligence in Supply Chain Mahesh Chand, Vineet Jain, Puneeta Ajmera, 2023-11-22 This book highlights the importance of data-driven technologies and artificial intelligence in supply chain management. It covers important concepts such as enabling technologies in Industry 4.0, the impact of artificial intelligence, and data-driven technologies in lean manufacturing. Provides solutions to solve complex supply chain management issues using artificial intelligence and data-driven technologies. Emphasizes the impact of a data-driven supply chain on quality management. Discusses applications of artificial intelligence, and data-driven technologies in the service industry, and lean manufacturing. Highlights the barriers to implementing artificial intelligence in small and medium enterprises. Presents a better understanding of different risks such as procurement risks, process risks, demand risks, transportation risks, and operational risks. The book comprehensively discusses the applications of artificial intelligence and data-driven technologies in supply chain management for diverse fields such as service industries, manufacturing industries, and healthcare. It further covers the impact of artificial intelligence and data-driven technologies in managing the FMGC supply chain. It will be a valuable resource for senior undergraduate, graduate students, and academic researchers in diverse fields including electrical engineering, electronics and communications engineering, industrial engineering, manufacturing engineering, production engineering, and computer engineering. |
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ai and supply chain management: Handbook of Research on Applied AI for International Business and Marketing Applications Christiansen, Bryan, Škrinjari?, Tihana, 2020-09-25 Artificial intelligence (AI) describes machines/computers that mimic cognitive functions that humans associate with other human minds, such as learning and problem solving. As businesses have evolved to include more automation of processes, it has become more vital to understand AI and its various applications. Additionally, it is important for workers in the marketing industry to understand how to coincide with and utilize these techniques to enhance and make their work more efficient. The Handbook of Research on Applied AI for International Business and Marketing Applications is a critical scholarly publication that provides comprehensive research on artificial intelligence applications within the context of international business. Highlighting a wide range of topics such as diversification, risk management, and artificial intelligence, this book is ideal for marketers, business professionals, academicians, practitioners, researchers, and students. |
ai and supply chain management: The Art of Structuring Katrin Bergener, Michael Räckers, Armin Stein, 2019-01-25 Structuring, or, as it is referred to in the title of this book, the art of structuring, is one of the core elements in the discipline of Information Systems. While the world is becoming increasingly complex, and a growing number of disciplines are evolving to help make it a better place, structure is what is needed in order to understand and combine the various perspectives and approaches involved. Structure is the essential component that allows us to bridge the gaps between these different worlds, and offers a medium for communication and exchange. The contributions in this book build these bridges, which are vital in order to communicate between different worlds of thought and methodology – be it between Information Systems (IS) research and practice, or between IS research and other research disciplines. They describe how structuring can be and should be done so as to foster communication and collaboration. The topics covered reflect various layers of structure that can serve as bridges: models, processes, data, organizations, and technologies. In turn, these aspects are complemented by visionary outlooks on how structure influences the field. |
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ai and supply chain management: AI and Machine Learning Applications in Supply Chains and Marketing Masengu, Reason, Tsikada, Charles, Garwi, Jabulani, 2024-10-18 While artificial intelligence (AI) simulates human intelligence in machines, machine learning (ML) enables systems to learn from data without explicit programming. In marketing and supply chain management, AI and ML empower businesses to analyze consumer behavior, personalize experiences, optimize advertising strategies, forecast consumer demands, manage inventory, plan routes, and mitigate risks. Businesses can enhance efficiency, accuracy, decision-making, customer engagement, and cost-effectiveness when integrating AI and ML in marketing and supply chain operations. Further research is necessary to drive success in the dynamic marketplace. AI and Machine Learning Applications in Supply Chains and Marketing bridges the gap between theoretical knowledge and practical application of AI and ML in marketing and supply chain management. It examines emerging technologies that can revolutionize industries by transforming business operations. This book covers topics such as data analysis, sustainable development, and blockchain, and is a useful resource for business owners, economists, marketing professionals, engineers, computer scientists, academicians, and researchers. |
ai and supply chain management: The Digital Supply Chain Bart L. MacCarthy, Dmitry Ivanov, 2022-06-09 The Digital Supply Chain is a thorough investigation of the underpinning technologies, systems, platforms and models that enable the design, management, and control of digitally connected supply chains. The book examines the origin, emergence and building blocks of the Digital Supply Chain, showing how and where the virtual and physical supply chain worlds interact. It reviews the enabling technologies that underpin digitally controlled supply chains and examines how the discipline of supply chain management is affected by enhanced digital connectivity, discussing purchasing and procurement, supply chain traceability, performance management, and supply chain cyber security. The book provides a rich set of cases on current digital practices and challenges across a range of industrial and business sectors including the retail, textiles and clothing, the automotive industry, food, shipping and international logistics, and SMEs. It concludes with research frontiers, discussing network science for supply chain analysis, challenges in Blockchain applications and in digital supply chain surveillance, as well as the need to re-conceptualize supply chain strategies for digitally transformed supply chains. |
ai and supply chain management: Responsible AI and Analytics for an Ethical and Inclusive Digitized Society Denis Dennehy, Anastasia Griva, Nancy Pouloudi, Yogesh K. Dwivedi, Ilias Pappas, Matti Mäntymäki, 2021-08-25 This volume constitutes the proceedings of the 20th IFIP WG 6.11 Conference on e-Business, e-Services, and e-Society, I3E 2021, held in Galway, Ireland, in September 2021.* The total of 57 full and 8 short papers presented in these volumes were carefully reviewed and selected from 141 submissions. The papers are organized in the following topical sections: AI for Digital Transformation and Public Good; AI & Analytics Decision Making; AI Philosophy, Ethics & Governance; Privacy & Transparency in a Digitized Society; Digital Enabled Sustainable Organizations and Societies; Digital Technologies and Organizational Capabilities; Digitized Supply Chains; Customer Behavior and E-business; Blockchain; Information Systems Development; Social Media & Analytics; and Teaching & Learning. *The conference was held virtually due to the COVID-19 pandemic. |
ai and supply chain management: Handbook of Research on Innovative Management Using AI in Industry 5.0 Garg, Vikas, Goel, Richa, 2021-11-19 There is no industry left where artificial intelligence is not used in some capacity. The application of this technology has already stretched across a multitude of domains including law and policy; it will soon permeate areas beyond anyone’s imagination. Technology giants such as Google, Apple, and Facebook are already investing their money, effort, and time toward integrating artificial intelligence. As this technology continues to develop and expand, it is critical for everyone to understand the various applications of artificial intelligence and its full potential. The Handbook of Research on Innovative Management Using AI in Industry 5.0 uncovers new and innovative features of artificial intelligence and how it can help in raising economic efficiency at both micro and macro levels and provides a deeper understanding of the relevant aspects of artificial intelligence impacting efficacy for better output. Covering topics such as consumer behavior, information technology, and personalized banking, it is an ideal resource for researchers, academicians, policymakers, business professionals, companies, and students. |
ai and supply chain management: Technology in Supply Chain Management and Logistics Anthony M. Pagano, Matthew Liotine, 2019-09-07 Technology in Supply Chain Management and Logistics: Current Practice and Future Applications analyzes the implications of these technologies in a variety of supply chain settings, including block chain, Internet of Things (IoT), inventory optimization, and medical supply chain. This book outlines how technologies are being utilized for product planning, materials management and inventory, transportation and distribution, workflow, maintenance, the environment, and in health and safety. Readers will gain a better understanding of the implications of these technologies with respect to value creation, operational effectiveness, investment level, technical migration and general industry acceptance. In addition, the book features case studies, providing a real-world look at supply chain technology implementations, their necessary training requirements, and how these new technologies integrate with existing business technologies. - Identifies emerging supply chain technologies and trends in technology acceptance and utilization levels across various industry sectors - Assists professionals with technology investment decisions, procurement, best values, and how they can be utilized for logistics operations - Features videos showing technology application, including optimization software, cloud computing, mobility, 3D printing, autonomous vehicles, drones and machine learning |
ai and supply chain management: Applications of Machine Learning Prashant Johri, Jitendra Kumar Verma, Sudip Paul, 2020-05-04 This book covers applications of machine learning in artificial intelligence. The specific topics covered include human language, heterogeneous and streaming data, unmanned systems, neural information processing, marketing and the social sciences, bioinformatics and robotics, etc. It also provides a broad range of techniques that can be successfully applied and adopted in different areas. Accordingly, the book offers an interesting and insightful read for scholars in the areas of computer vision, speech recognition, healthcare, business, marketing, and bioinformatics. |
ai and supply chain management: Logistics 4.0 Turan Paksoy, Cigdem Gonul Kochan, Sadia Samar Ali, 2020-12-17 Industrial revolutions have impacted both, manufacturing and service. From the steam engine to digital automated production, the industrial revolutions have conduced significant changes in operations and supply chain management (SCM) processes. Swift changes in manufacturing and service systems have led to phenomenal improvements in productivity. The fast-paced environment brings new challenges and opportunities for the companies that are associated with the adaptation to the new concepts such as Internet of Things (IoT) and Cyber Physical Systems, artificial intelligence (AI), robotics, cyber security, data analytics, block chain and cloud technology. These emerging technologies facilitated and expedited the birth of Logistics 4.0. Industrial Revolution 4.0 initiatives in SCM has attracted stakeholders’ attentions due to it is ability to empower using a set of technologies together that helps to execute more efficient production and distribution systems. This initiative has been called Logistics 4.0 of the fourth Industrial Revolution in SCM due to its high potential. Connecting entities, machines, physical items and enterprise resources to each other by using sensors, devices and the internet along the supply chains are the main attributes of Logistics 4.0. IoT enables customers to make more suitable and valuable decisions due to the data-driven structure of the Industry 4.0 paradigm. Besides that, the system’s ability of gathering and analyzing information about the environment at any given time and adapting itself to the rapid changes add significant value to the SCM processes. In this peer-reviewed book, experts from all over the world, in the field present a conceptual framework for Logistics 4.0 and provide examples for usage of Industry 4.0 tools in SCM. This book is a work that will be beneficial for both practitioners and students and academicians, as it covers the theoretical framework, on the one hand, and includes examples of practice and real world. |
ai and supply chain management: The Quantitative Supply Chain Joannès Vermorel, 2018-01-26 The Quantitative Supply Chain represents a novel and disruptive perspective on the optimization of supply chains. It can be seen as a refoundation of many supply chain practices, in particular regarding inventory forecasting, and has been built to make the most of the latest statistical approaches and vast computing resources that are available nowadays. |
ai and supply chain management: The AI Economy Roger Bootle, 2019-11-26 Gold winner in Business Technology category, 2020 Axiom Business Book Awards Extraordinary innovations in technology promise to transform the world, but how realistic is the claim that AI will change our lives? In this much needed book the acclaimed economist Roger Bootle responds to the fascinating economic questions posed by the age of the robot, steering a path away from tech jargon and alarmism towards a rational explanation of the ways in which the AI revolution will affect us all. Tackling the implications of Artificial Intelligence on growth, productivity, inflation and the distribution of wealth and power, THE AI ECONOMY also examines coming changes to the the way we educate, work and spend our leisure time. A fundamentally optimistic view which will help you plan for changing times, this book explains AI and leads you towards a more certain future. Extraordinary innovations in technology promise to transform the world, but how realistic is the claim that AI will change our lives? In this much needed book the acclaimed economist Roger Bootle responds to the fascinating economic questions posed by the age of the robot, steering a path away from tech jargon and alarmism towards a rational explanation of the ways in which the AI revolution will affect us all. Tackling the implications of Artificial Intelligence on growth, productivity, inflation and the distribution of wealth and power, THE AI ECONOMY also examines coming changes to the the way we educate, work and spend our leisure time. A fundamentally optimistic view which will help you plan for changing times, this book explains AI and leads you towards a more certain future. |
ai and supply chain management: The Fourth Industrial Revolution: Implementation of Artificial Intelligence for Growing Business Success Allam Hamdan, Aboul Ella Hassanien, Anjum Razzaque, Bahaaeddin Alareeni, 2021-04-11 This book focuses on the implementation of AI for growing business, and the book includes research articles and expository papers on the applications of AI on decision-making, health care, smart universities, public sector and digital government, FinTech, and RegTech. Artificial Intelligence (AI) is a vital and a fundamental driver for the Fourth Industrial Revolution (FIR). Its influence is observed at homes, in the businesses and in the public spaces. The embodied best of AI reflects robots which drive our cars, stock our warehouses, monitor our behaviors and warn us of our health, and care for our young children. Some researchers also discussed the role of AI in the current COVID-19 pandemic, whether in the health sector, education, and others. On all of these, the researchers discussed the impact of AI on decision-making in those vital sectors of the economy. |
ai and supply chain management: The Fourth Industrial Revolution Klaus Schwab, 2017-01-03 World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress. |
ai and supply chain management: ADKAR Jeff Hiatt, 2006 In his first complete text on the ADKAR model, Jeff Hiatt explains the origin of the model and explores what drives each building block of ADKAR. Learn how to build awareness, create desire, develop knowledge, foster ability and reinforce changes in your organization. The ADKAR Model is changing how we think about managing the people side of change, and provides a powerful foundation to help you succeed at change. |
ai and supply chain management: Intelligent Decision Making: An AI-Based Approach Gloria Phillips-Wren, Nikhil Ichalkaranje, 2008-03-04 Intelligent Decision Support Systems have the potential to transform human decision making by combining research in artificial intelligence, information technology, and systems engineering. The field of intelligent decision making is expanding rapidly due, in part, to advances in artificial intelligence and network-centric environments that can deliver the technology. Communication and coordination between dispersed systems can deliver just-in-time information, real-time processing, collaborative environments, and globally up-to-date information to a human decision maker. At the same time, artificial intelligence techniques have demonstrated that they have matured sufficiently to provide computational assistance to humans in practical applications. This book includes contributions from leading researchers in the field beginning with the foundations of human decision making and the complexity of the human cognitive system. Researchers contrast human and artificial intelligence, survey computational intelligence, present pragmatic systems, and discuss future trends. This book will be an invaluable resource to anyone interested in the current state of knowledge and key research gaps in the rapidly developing field of intelligent decision support. |
ai and supply chain management: Data Science for Supply Chain Forecasting Nicolas Vandeput, 2021-03-22 Using data science in order to solve a problem requires a scientific mindset more than coding skills. Data Science for Supply Chain Forecasting, Second Edition contends that a true scientific method which includes experimentation, observation, and constant questioning must be applied to supply chains to achieve excellence in demand forecasting. This second edition adds more than 45 percent extra content with four new chapters including an introduction to neural networks and the forecast value added framework. Part I focuses on statistical traditional models, Part II, on machine learning, and the all-new Part III discusses demand forecasting process management. The various chapters focus on both forecast models and new concepts such as metrics, underfitting, overfitting, outliers, feature optimization, and external demand drivers. The book is replete with do-it-yourself sections with implementations provided in Python (and Excel for the statistical models) to show the readers how to apply these models themselves. This hands-on book, covering the entire range of forecasting—from the basics all the way to leading-edge models—will benefit supply chain practitioners, forecasters, and analysts looking to go the extra mile with demand forecasting. |
ai and supply chain management: Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation Sujeet K. Sharma, Yogesh K. Dwivedi, Bhimaraya Metri, Nripendra P. Rana, 2020-12-15 This two-volume set of IFIP AICT 617 and 618 constitutes the refereed proceedings of the IFIP WG 8.6 International Working Conference Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation on Transfer and Diffusion of IT, TDIT 2020, held in Tiruchirappalli, India, in December 2020. The 86 revised full papers and 36 short papers presented were carefully reviewed and selected from 224 submissions. The papers focus on the re-imagination of diffusion and adoption of emerging technologies. They are organized in the following parts: Part I: artificial intelligence and autonomous systems; big data and analytics; blockchain; diffusion and adoption technology; emerging technologies in e-Governance; emerging technologies in consumer decision making and choice; fin-tech applications; healthcare information technology; and Internet of Things Part II: information technology and disaster management; adoption of mobile and platform-based applications; smart cities and digital government; social media; and diffusion of information technology and systems |
ai and supply chain management: The AI-Powered Enterprise Seth Earley, 2020-04-28 Learn how to develop and employ an ontology, the secret weapon for successfully using artificial intelligence to create a powerful competitive advantage in your business. The AI-Powered Enterprise examines two fundamental questions: First, how will the future be different as a result of artificial intelligence? And second, what must companies do to stake their claim on that future? When the Web came along in the mid-90s, it transformed the behavior of customers and remade whole industries. Now, as part of its promise to bring revolutionary change in untold ways to human activity, artificial intelligence--AI--is about to create another complete transformation in how companies create and deliver value to customers. But despite the billions spent so far on bots and other tools, AI continues to stumble. Why can't it magically use all the data organizations generate to make them run faster and better? Because something is missing. AI works only when it understands the soul of the business. An ontology is a holistic digital model of every piece of information that matters to the business, from processes to products to people, and it's what makes the difference between the promise of AI and delivering on that promise. Business leaders who want to catch the AI wave--rather than be crushed by it--need to read The AI-Powered Enterprise. The book is the first to combine a sophisticated explanation of how AI works with a practical approach to applying AI to the problems of business, from customer experience to business operations to product development. |
ai and supply chain management: Advances in Production Management Systems. Artificial Intelligence for Sustainable and Resilient Production Systems Alexandre Dolgui, Alain Bernard, David Lemoine, Gregor von Cieminski, David Romero, 2021-08-31 The five-volume set IFIP AICT 630, 631, 632, 633, and 634 constitutes the refereed proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2021, held in Nantes, France, in September 2021.* The 378 papers presented were carefully reviewed and selected from 529 submissions. They discuss artificial intelligence techniques, decision aid and new and renewed paradigms for sustainable and resilient production systems at four-wall factory and value chain levels. The papers are organized in the following topical sections: Part I: artificial intelligence based optimization techniques for demand-driven manufacturing; hybrid approaches for production planning and scheduling; intelligent systems for manufacturing planning and control in the industry 4.0; learning and robust decision support systems for agile manufacturing environments; low-code and model-driven engineering for production system; meta-heuristics and optimization techniques for energy-oriented manufacturing systems; metaheuristics for production systems; modern analytics and new AI-based smart techniques for replenishment and production planning under uncertainty; system identification for manufacturing control applications; and the future of lean thinking and practice Part II: digital transformation of SME manufacturers: the crucial role of standard; digital transformations towards supply chain resiliency; engineering of smart-product-service-systems of the future; lean and Six Sigma in services healthcare; new trends and challenges in reconfigurable, flexible or agile production system; production management in food supply chains; and sustainability in production planning and lot-sizing Part III: autonomous robots in delivery logistics; digital transformation approaches in production management; finance-driven supply chain; gastronomic service system design; modern scheduling and applications in industry 4.0; recent advances in sustainable manufacturing; regular session: green production and circularity concepts; regular session: improvement models and methods for green and innovative systems; regular session: supply chain and routing management; regular session: robotics and human aspects; regular session: classification and data management methods; smart supply chain and production in society 5.0 era; and supply chain risk management under coronavirus Part IV: AI for resilience in global supply chain networks in the context of pandemic disruptions; blockchain in the operations and supply chain management; data-based services as key enablers for smart products, manufacturing and assembly; data-driven methods for supply chain optimization; digital twins based on systems engineering and semantic modeling; digital twins in companies first developments and future challenges; human-centered artificial intelligence in smart manufacturing for the operator 4.0; operations management in engineer-to-order manufacturing; product and asset life cycle management for smart and sustainable manufacturing systems; robotics technologies for control, smart manufacturing and logistics; serious games analytics: improving games and learning support; smart and sustainable production and supply chains; smart methods and techniques for sustainable supply chain management; the new digital lean manufacturing paradigm; and the role of emerging technologies in disaster relief operations: lessons from COVID-19 Part V: data-driven platforms and applications in production and logistics: digital twins and AI for sustainability; regular session: new approaches for routing problem solving; regular session: improvement of design and operation of manufacturing systems; regular session: crossdock and transportation issues; regular session: maintenance improvement and lifecycle management; regular session: additive manufacturing and mass customization; regular session: frameworks and conceptual modelling for systems and services efficiency; regular session: optimization of production and transportation systems; regular session: optimization of supply chain agility and reconfigurability; regular session: advanced modelling approaches; regular session: simulation and optimization of systems performances; regular session: AI-based approaches for quality and performance improvement of production systems; and regular session: risk and performance management of supply chains *The conference was held online. |
ai and supply chain management: The Digital Supply Chain Challenge Ralf W Seifert, Richard Markoff, 2020-10-05 The Digital Supply Chain Challenge is a distillation of the authors' 50+ years of combined supply chain experience. Their insights and observations - captured in short articles and best-practice case studies - are brought together in one place for supply chain executives to consult at different times during their SCD voyage. |
ai and supply chain management: Digital Supply Networks: Transform Your Supply Chain and Gain Competitive Advantage with Disruptive Technology and Reimagined Processes Amit Sinha, Ednilson Bernardes, Rafael Calderon, Thorsten Wuest, 2020-07-21 Deliver unprecedented customer value and seize your competitive edge with a transformative digital supply network Digital tech has disrupted life and business as we know it, and supply chain management is no exception. But how exactly does digital transformation affect your business? What are the breakthrough technologies and their capabilities you need to know about? How will digital transformation impact skills requirements and work in general? Do you need to completely revamp your understanding of supply chain management? And most importantly: How do you get started? Digital Supply Networks provides clear answers to these and many other questions. Written by an experienced team comprised of Deloitte consultants and leading problem-driven scholars from a premier research university, this expert guide leads you through the process of improving operations building supply networks, increasing revenue, reimagining business models, and providing added value to customers, stakeholders, and society. You’ll learn everything you need to know about: Stages of development, roles, capabilities, and the benefits of DSN Big data analytics including its attributes, security, and authority Machine learning, Artificial Intelligence, Blockchain, robotics, and the Internet of Things Synchronized planning, intelligent supply, and digital product development Vision, attributes, technology, and benefits of smart manufacturing, dynamic logistics, and fulfillment A playbook to guide the digital transformation journey Drawing from real world-experience and problem-driven academic research, the authors provide an in-depth account of the transformation to digitally connected supply networks. They discuss the limitations of traditional supply chains and the underlying capabilities and potential of digitally-enabled supply flows. The chapters burst with expert insights and real-life use cases grounded in tomorrow’s industry needs. Success in today’s hyper-competitive, fast-paced business landscape, characterized by the risk of black swan events, such as the 2020 COVID-19 global pandemic, requires the reimagination and the digitalization of complex demand-supply systems, more collaborative and connected processes, and smarter, more dynamic data-driven decision making―which can only be achieved through a fully integrated Digital Supply Network. |
ai and supply chain management: Applications of Artificial Intelligence and Machine Learning Ankur Choudhary, Arun Prakash Agrawal, Rajasvaran Logeswaran, Bhuvan Unhelkar, 2021-07-27 The book presents a collection of peer-reviewed articles from the International Conference on Advances and Applications of Artificial Intelligence and Machine Learning - ICAAAIML 2020. The book covers research in artificial intelligence, machine learning, and deep learning applications in healthcare, agriculture, business, and security. This volume contains research papers from academicians, researchers as well as students. There are also papers on core concepts of computer networks, intelligent system design and deployment, real-time systems, wireless sensor networks, sensors and sensor nodes, software engineering, and image processing. This book will be a valuable resource for students, academics, and practitioners in the industry working on AI applications. |
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