ROLE OF ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING IN OPTIMIZING INVENTORY MANAGEMENT ACROSS GLOBAL INDUSTRIAL MANUFACTURING & SUPPLY CHAIN: A MULTI-COUNTRY REVIEW

Abstract

This study examines the impact of Artificial Intelligence (AI) and Machine Learning (ML) on inventory management within global industrial manufacturing and supply chains, particularly in the context of Industry 4.0. Through a comparative analysis across several countries, the research analyzes quantitative and qualitative data to assess the adoption and integration of these technologies and their implications for supply chain optimization. The research methodology includes a comprehensive literature review using multiple databases and expert interviews conducted within a specific timeframe. The study identifies a significant favorable influence of AI and ML on enhancing efficiency, reducing costs, and improving real-time data analytics and predictive maintenance. It highlights the evolution from theoretical potential to practical applications, with an increased focus on regulatory compliance and data integrity, reflecting the industry's maturation in digital integration. Furthermore, the study explores the strategic role of AI and ML in process design and the holistic adoption of Industry 4.0 principles across the supply chain. The findings contribute to the academic literature by detailing the benefits and challenges of AI and ML implementation, offering insights for future research and practical applications in the supply chain sector. The conclusion emphasizes the transformative potential of AI and ML, advocating for their strategic implementation to foster resilience and adaptability in supply chain networks.