AI DRIVEN - INVENTORY MANAGEMENT

Abstract

Inventory management plays a crucial role in businesses, and the integration of artificial intelligence (AI) has emerged as a game-changer in logistics and supply chain operations, particularly in inventory management.This research aims to explore the potential of AI technology in enhancing inventory management by addressing two fundamental questions: Can AI improve inventory management, and how can AI be utilized for this purpose?The research adopts a qualitative approach, utilizing a literature review to gather data from various sources, including articles, books, and web pages.By comprehending inventory management concepts, types, purpose, and approaches, as well as exploring AI technology's definition, history, and potential applications, the study examines how AI has been employed in different industries to enhance day-to-day operations.The findings reveal that AI and machine learning applications in inventory management can significantly improve data accuracy, productivity, decision-making speed, cost reduction, and customer satisfaction.In conclusion, the research establishes that AI has the potential to bring profitability, accuracy, and efficiency to businesses, making it a promising technology for optimizing inventory management processes.