Performance Optimization of Industrial Supply Chain Using Artificial Intelligence

Abstract

Nowadays, organized retailing has witnessed a newer trend in the upcoming generations. Globally, these changes are attributed to growing family income, increased female participation, the transformation from joint to nuclear family structure, and technological advancements. Moreover, other variables such as lower supply chain costs, growing sales, rising consumer demands, changing market structure, and increasing competition also influenced supply chain networks. It is observed that the organizational nonlivestock supply chain performance is affected by strategic, operational, and environmental aspects. AI is helping to deliver powerful optimization capabilities, which are required for more accurate capacity planning, improved productivity, high quality, lower costs, and greater output, all while fostering safer working conditions. These benefits are all made possible thanks to the introduction of AI in supply chains. By conducting a comprehensive analysis of the relevant previous research, the purpose of this work is to determine the specific contributions that artificial intelligence (AI) has made to supply chain management. This research attempted to discover the present as well as possible AI strategies that may increase both the study of Supply Chain Management as well as the practice of it. This was done in order to solve the current scientific gap of AI in Supply Chain Management. It was also found that there are holes in the existing study that need to be filled by more scientific investigation. To be more exact, the following four facets were discussed: (1) the AI approaches that are most often used in Supply Chain Management; (2) the AI techniques that have the potential to be used in Supply Chain Management; (3) the Supply Chain Management subfields that have benefited from the application of AI so far; and (4) the subfields that have a high potential to be improved by AI. Identifying and evaluating articles from the four supply chain management domains of logistics, marketing, supply chain management, and manufacturing require the use of a predetermined set of inclusion and exclusion criteria. In this study, insights are provided via the use of methodical analysis and synthesis. A better understanding of these parameters not only improves the nonlivestock supply chain processes but also ensures competitive advantage. The present research aims to test the following elements that including supply chain speed, customer retention, supply chain management integration, and various management. The proposed work categorizes the performance of the supply chain using the Improved Feed Forward Network with Particle Swarm Optimization technique. Results indicate that inventory management, customer happiness, profitability, and client base identification are listed as competitive advantage elements. On the other hand, stakeholder satisfaction, innovation and learning, market performance, customer satisfaction, and financial success are the six recognized organizational performance criteria. Resultantly, the overall performance metrics of the proposed work is 94.12%, while accuracy rate, specificity, and sensitivity rate are found to be 94.12%, 92.15%, and 89.14%, respectively. The research can be helpful for industrial managers to optimize the performance of supply chain systems using artificial intelligence.