Analysis and study Artificial Intelligence to improve Inventory management
Foya, Eliamani Exaudi (2021)
Foya, Eliamani Exaudi
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021052511056
https://urn.fi/URN:NBN:fi:amk-2021052511056
Tiivistelmä
In many organizations, inventory management has an essential role in business activities. The faster and continuing application of new technology in logistics and supply chain, specifically in inventory management, is Artificial intelligence. The technology has transformed the way activities were performed and deliver competitive results in the business.
This study aimed to study and find out the use of artificial intelligence technology to improve inventory management. As guidance of the writing process, two questions introduced which by answering them directed the thesis to the final result: Can Artificial intelligence improve inventory management?, How can the organization utilize Artificial intelligence in inventory management activities?
The qualitative research method was used, and research information was collected through a literature review from a different researcher. Articles, books, and web pages were used as the source of information to answer those questions by understanding in the broader perspective the concept behind inventory management, the different types of inventory, the purpose of holding inventory, the technique used to manage inventories, costs involved. There were also needed to understand in the big picture the concept behind Artificial intelligence technology, how it is defined, the history, types of AI, where it is possible used. Also, there was a need to analyze which sectors implemented artificial intelligence and how it has improved their daily activities.
Finally, after a more comprehensive review of research in inventory management and artificial intelligence and case study, the results show that the application of AI and machine learning can improve the activities related to inventory management. It improves data accuracy, improves productivity, quick decision-making, minimizes costs, and consistently ensures customer satisfaction. As a conclusion of the research concerning the results found, profit, accuracy, and speed in businesses are possible with artificial intelligence.
This study aimed to study and find out the use of artificial intelligence technology to improve inventory management. As guidance of the writing process, two questions introduced which by answering them directed the thesis to the final result: Can Artificial intelligence improve inventory management?, How can the organization utilize Artificial intelligence in inventory management activities?
The qualitative research method was used, and research information was collected through a literature review from a different researcher. Articles, books, and web pages were used as the source of information to answer those questions by understanding in the broader perspective the concept behind inventory management, the different types of inventory, the purpose of holding inventory, the technique used to manage inventories, costs involved. There were also needed to understand in the big picture the concept behind Artificial intelligence technology, how it is defined, the history, types of AI, where it is possible used. Also, there was a need to analyze which sectors implemented artificial intelligence and how it has improved their daily activities.
Finally, after a more comprehensive review of research in inventory management and artificial intelligence and case study, the results show that the application of AI and machine learning can improve the activities related to inventory management. It improves data accuracy, improves productivity, quick decision-making, minimizes costs, and consistently ensures customer satisfaction. As a conclusion of the research concerning the results found, profit, accuracy, and speed in businesses are possible with artificial intelligence.