AI-Based Inventory Management Solutions for American Manufacturing and Retail: Techniques and Real-World Applications
Keywords:
Inventory Management, Manufacturing and RetailAbstract
Artificial Intelligence (AI) has garnered significant attention for its potential in revolutionizing inventory management. By leveraging AI technologies, companies can enhance operational efficiency, reduce costs, and improve accuracy in supply chain operations [1]. Specifically, AI is being developed to optimize inventory levels, forecast demand, and automate restocking processes, providing organizations with the capability to make informed decisions regarding inventory management through data analytics insights.
Moreover, AI is a branch of computer science that focuses on creating computers capable of independently performing tasks that typically require human intelligence, thereby enabling precise and expedited issue resolution [2]. As part of AI, Machine Learning (ML) plays a crucial role in teaching machines to learn from datasets, enabling the creation of automated models to recognize hidden insights and patterns in historical data. This foundational understanding of AI in inventory management sets the stage for exploring its specific applications and benefits in the manufacturing and retail sectors.
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