Integration of Machine Learning in Agile Supply Chain Management

Abstract

One essential component of any manufacturing industry's success is a successful supply chain. Customer expectations have increased due to the quick growth of information and communication technologies, which has also made the world more competitive. Global production and manufacturing have now transitioned to Industry 4.0. The "Internet of Things," "Big Data," and "Artificial Intelligence" are the dominant digital technologies in this. Consequently, in the near future, supply chain management (SCM) will manage not only the flow of raw materials, semi-finished goods, finished goods, and services from the manufacturer to the customer, but also the flow of the most recent data for current and future supply chain visibility & sustainability. For this many companies around the world have tapped one of the advanced technique - Machin Learning (ML) for early risk identification & management, material planning & forecasting, raw material price forecasting etc. As a result, purpose of this paper is to explain a conceptual framework which illuminates factors influencing integration of Machin learning (ML) in Agile Supply chain management, its benefits, and challenges to implement.