BLOG

Machine Learning in Supply Chain Management: New Age Technology to Streamline Business Operations

Aug 8, 2019

Machine learning is an application of artificial intelligence that allows businesses to create complex algorithms and reduce human interference by automating tasks. It makes the machine capable of learning by itself and predict the outcomes by analyzing data from varied sources. By integrating machine learning in supply chain, companies can generate advanced and effective patterns of supply chain data. Let’s understand in detail about the role of machine learning in supply chain management through this blog.

Want to know how integrating machine learning in supply chain management can benefit procurement organizations? Request a free proposal and we will get back to you in within two working days.

Request Free Proposal

Role of Machine Learning in Supply Chain Management

Scheduling downtime in advance

The power of machine learning in supply chain management is just beginning to make itself apparent. One of the most exciting domains where it plays a significant role is machine maintenance scheduling. Machine learning algorithms study the signs of machine failure and predict in advance about pieces of machinery that are likely to experience a breakdown or malfunction in the near future. This way, businesses can schedule downtime before any breakdown.

Identifying damaged products

Identifying damaged products is an important application of machine learning in supply chain. Using machine sensors can help production managers to scan inbound goods for damage during inventory stocking. It can quickly identify the damage, wear and tear throughout the logistic hubs and product shipment. Not only this, Industry 4.0 enabled systems can send out notifications once the faulty parts are discovered and minimize disruption across all points in the supply chain.  

Improving demand forecasting

Machine learning workflows can help businesses with accurate demand forecasting. It can analyze huge quantities of data by improving the efficiency of forecasting processes and predictions. Also, it is possible to use machine learning for in-depth analysis of individual customers and predict future buying and ordering behavior. In this way, businesses are not just able to streamline production and transport processes to real demand, they also able to improve customer relationships. By integrating machine learning in supply chain, you can establish yourself as a trusted business partner among customers by anticipating their demands before they arise.

Improving demand forecasting can help businesses anticipate customers’ demands. Give SpendEdge a try by subscribing for a free demo to our platform and understand the importance of machine learning supply chain forecasting for your business.  

Boosting supply chain visibility

Each new technology that blooms up in the market promises to improve supply chain visibility. So how can machine learning contribute to it? By examining data from a host of different sources, machine learning workflows can discover complex interconnections between various disparate processes across the value chain. Incorporating machine learning in the supply chain will thus allow planners to identify new opportunities and address complexities in the changeable global value chain.

Getting Down To Business

We are offering Free Trials to all our customers or prospects who have been impacted positively or negatively by Covid-19 and are looking to connect with prospect buyers immediately.

Contact us

COVID-19

Featured

Overview

Buyers

Diagnostic Test Kit

Additional Resources
Contact

A LOOK INTO THE FUTURE OF THE FOOD AND BEVERAGE INDUSTRY AFTER THE COVID-19 PANDEMIC

Identifying the Top 100 Coronavirus (COVID-19) Test Kit Manufacturers Across Regions

Sourcing and Procurement Market Intelligence Services

Products and Tools

Featured

Services Overview

Category Market Intelligence

Supply Market Analysis

Low-Cost/Best-Cost Country Sourcing

Benchmarking

Spend Analysis

Cost Modeling and Should-Cost Analysis

Total Cost of Ownership (TCO) Analysis

Supplier Risk Analysis

Supply Chain Risk Assessment

Supplier Sustainability Assessment

Commodity Price Forecasting

Category Management

Supplier Negotiations

Contract Management

Procurement Store

Purchase Ready-to-use Reports

SEinsightsTM

Our Robust Procurement Platform

BizVibeTM

Suppliers and Buyers Marketplace

SUPPLY MARKET ANALYSIS FOR A METAL MANUFACTURING COMPANY HELPS ACHIEVE ANNUAL SAVINGS OF $15 MILLION

Industries

Industries Overview

Automotive and Tire

Banking, Financial Services and Insurance

Biotechnology, Pharmaceutical and Life Sciences

Chemicals

Energy

Food and Beverage

Industrial and Manufacturing

ICT, Media and Entertainment

Mining, Metals and Minerals

Retail and CPG

Transportation

INCREASING LOCAL PROCUREMENT BY 28% FOR A COMPANY IN THE METALS AND MINING INDUSTRY – A CASE STUDY BY SPENDEDGE

Resources

Featured

Resources Overview

COVID-19 Resources

Blogs

Case Studies

Whitepapers

Webinars

Press Releases and Media Mentions

5 KEY CORONAVIRUS RISK ASSESSMENT STRATEGIES TO OVERCOME HEALTHCARE SUPPLY CHAIN CHALLENGES

IDENTIFYING STRATEGIC PURCHASING PRACTICES FOR A COMPANY IN THE US FOOD SERVICE INDUSTRY | SPENDEDGE’S LATEST SUCCESS STORY

Clients

Featured

Clients Overview

Who We Serve

Case Studies

SUPPLY CHAIN MANAGEMENT HELPS AN IMPORT AND EXPORT INDUSTRY CLIENT ENHANCE SUPPLY CHAIN VISIBILITY

REALIZING SAVINGS OF $15 MILLION IN PACKAGING SPEND FOR AN FMCG CLIENT – PACKAGING SOURCING STRATEGY

About Us

News

About SpendEdge
Why SpendEdge?
Vision, Mission and Values
Clients
Social Impact
Global Offices

Press Releases and Media Mentions

Upcoming Events & Webinars