The Role of Predictive Analytics in Supply Chain Optimization: A literature Study
Author(s):
Chinedu James Ujam , Federal University Otuoke, Bayelsa State, Nigeria
Keywords:
Keywords: Forcasting, Supply Chain, Optimization, Predictive Analysis and Logistics
Abstract:
Forecasting analysis is transforming logistics oversight by offering sophisticated instruments for foreseeing upcoming patterns and enhancing operational productivity. This document examines the revolutionary influence of forecasting analytics on different elements of supply chain enhancement, such as demand prediction, stock control, vendor effectiveness, risk assessment, and transportation efficiency. Utilizing past information, current data, and advanced calculations, forecasting frameworks allow businesses to make knowledgeable choices that boost precision, lower expenses, and strengthen overall supply chain durability. The combination of machine learning, extensive datasets, and new technologies like distributed ledger systems is enhancing the potential of forecasting analysis, propelling advancements in logistics processes. This document additionally explores upcoming developments in forecasting analysis, highlighting the significance of artificial intelligence, immediate data assimilation, and eco-friendly initiatives. By thoroughly examining existing methods and prospective pathways, the document emphasizes the essential importance of forecasting analysis in gaining a strategic advantage and securing enduring prosperity in a progressively intricate worldwide supply chain landscape.
Other Details:
| Manuscript Id | : | IJSTEV11I12001
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| Published in | : | Volume : 11, Issue : 12
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| Publication Date | : | 00/00/0000
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| Page(s) | : | 0-0
|
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