International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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A Study on Artificial Intelligence – Driven Inventory Solutions and Enhancing Manufacturing Efficiency

Author(s) Bharathi N S yadav, Sathvik K U, Raghava J, Yashwanth B S
Country India
Abstract Artificial Intelligence is pivotal in transforming Manufacturing and Inventory management practices and maintaining this delicate inventory balance. AI-driven predictive forecasting, for instance, considers historical data, seasonality, and market dynamics to provide exceptionally accurate demand forecasts. Managing inventory has become a complex puzzle in today’s fast-paced business world. As companies expand their reach and cater to a global audience, tracking inventory and maintaining an accurate “available-to-promise” status in real time has become a challenge. In the current competitive landscape, retailers prioritise a seamless approach to inventory management, especially with the growing importance of omnichannel fulfilment. The art of balancing supply and demand while keeping costs in check has become a high-stakes game where every piece of the inventory puzzle must fit perfectly. In this article, we explore the remarkable role of Artificial intelligence in Manufacturing and Inventory management. We will discuss how businesses can harness the power of AI to optimize their efficiency in Manufacturing and Inventory processes.
Keywords Artificial Intelligence, Manufacturing Process, Inventory Management, Supply Management and Automating Payroll.
Field Business Administration
Published In Volume 6, Issue 1, January-February 2024
Published On 2024-01-15
Cite This A Study on Artificial Intelligence – Driven Inventory Solutions and Enhancing Manufacturing Efficiency - Bharathi N S yadav, Sathvik K U, Raghava J, Yashwanth B S - IJFMR Volume 6, Issue 1, January-February 2024. DOI 10.36948/ijfmr.2024.v06i01.11925
DOI https://doi.org/10.36948/ijfmr.2024.v06i01.11925
Short DOI https://doi.org/gtdr4j
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