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The Role of Machine Learning Techniques in SCM—An Analysis

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Innovative Supply Chain Management via Digitalization and Artificial Intelligence

Part of the book series: Studies in Systems, Decision and Control ((SSDC,volume 424))

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Abstract

Supply chain is a network of organizations that includes retailers, wholesalers, carriers, producers, and clients. It should work firmly to increase the customer value. It necessitates that the entities should coordinate to share data and integrate them. However, the real universe and the ideal one for supply chain networks differ from each other. This is a result of the existence of known and unknown elements, ideas inherent in supply chain. Utilization of merchandise, dating back to the 2000s and now are two different aspects as the demand of customers has increased exponentially. For the market to satisfy the need, we require an effective strategy for the supply chain. Subsequently, Machine Learning became an integral factor in dissecting and providing ideal answers to overcome this supply and demand issue. In this chapter, we shall provide an outline of machine learning along with interpretation of some models under it, highlight their utility in real life and focus on how ML is useful in Supply Chain Management. We shall analyze its different aspects and parameters, with the help of a case study and its thorough analysis. This will provide a detailed insight into all the advantages and disadvantages of using ML in SCM, and its prospects in the future.

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Authors and Affiliations

  1. School of Information Technology and Engineering, VIT, Vellore, India

    B. K. Tripathy, S. Parikh & R. Jhanwar

  2. School of Electronic Science and Engineering, VIT, Vellore, India

    P. Ajay

Authors
  1. B. K. Tripathy
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  2. S. Parikh
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  3. R. Jhanwar
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  4. P. Ajay
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Corresponding author

Correspondence to B. K. Tripathy .

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Editors and Affiliations

  1. School of Information Technology and Engineering, Vellore Institute of Technology, Vellore, Tamil Nadu, India

    Kumaresan Perumal

  2. School of Information Technology and Engineering, Vellore Institute of Technology, Vellore, Tamil Nadu, India

    Chiranji Lal Chowdhary

  3. Chief Executive Officer, Cyber Innovations LLC, Virginia, VA, USA

    Logan Chella

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Tripathy, B.K., Parikh, S., Jhanwar, R., Ajay, P. (2022). The Role of Machine Learning Techniques in SCM—An Analysis. In: Perumal, K., Chowdhary, C.L., Chella, L. (eds) Innovative Supply Chain Management via Digitalization and Artificial Intelligence. Studies in Systems, Decision and Control, vol 424. Springer, Singapore. https://doi.org/10.1007/978-981-19-0240-6_2

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  • DOI: https://doi.org/10.1007/978-981-19-0240-6_2

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  • Online ISBN: 978-981-19-0240-6

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