Applications of Machine Learning Techniques in Supply Chain Optimization

Abstract

Supply Chains (SC) are the network of facilities that include various entities in its network. These entities should work cohesively to lower down the total cost of supply chain. This demands the collaboration, integration and sharing of information by these entities. However, there is still a mismatch between the real and ideal world of supply chain network. This gap persists due to the various known and unknown factors and the complex nature of Supply Chain. One of the reasons could be not knowing the real demand of the customers and producing more in anticipation of the demand. This study is an attempt to seek various business applications of Machine Learning (ML) techniques in Supply Chain Management. The research reviews the cases where Machine Learning Techniques are being used in Supply chain optimization.