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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Volume 10 | Issue 12
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Impact Factor : 8.14
Issue per Year : 12
Volume Published : 10
Issue Published : 115
Article Submitted : 19445
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Total Authors : 21252
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| Paper Title: | ML Driven Inventory Management System & Supply Chain Optimization: A Survey Paper |
| Authors Name: | Sanket Pimprikar , Neha Kumar Patkulkar , Om Prakash Varma , Abhinav Arun Ughade , Dr. Vandana Rohokale |
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IJRTI_200283
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| Published Paper Id: | IJRTI2501032 |
| Published In: | Volume 10 Issue 1, January-2025 |
| DOI: | http://doi.one/10.1729/Journal.43188 |
| Abstract: | Precise Demand Forecasting of Components in the Manufacturing industry is critical to supply chain management, as various factors affect the demand for the product. To regulate and maintain the buffer stock of components in the Inventory is necessary. This project focuses on reducing the downtime in the manufacturing process by predicting the demand for components and providing analysis on the buffer stock to be maintained to avoid downtime and overspending of company resources to acquire the components, which have a volatile demand in the industry. The project focuses on inventory optimization, cost reduction & reducing downtime. This paper aims to present an integrated forecasting strategy for intermittent or volatile demand of components in the manufacturing industry by comparing the accuracy of various machine learning models like Random Forest, XGBoost, and LSTM. Enhancing supply chain strategies by providing invaluable insights into demand forecasting of the components is the aim of this machine learning model for informed decision-making. |
| Keywords: | Inventory Optimization, Inventory Management System, Machine Learning, XGBoost, Random Forest, LSTM, Demand Forecasting, Supply chain management, Time Series Forecasting, Cost & Downtime Reduction, ensemble learning. |
| Cite Article: | "ML Driven Inventory Management System & Supply Chain Optimization: A Survey Paper ", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.10, Issue 1, page no.a229-a234, January-2025, Available :http://www.ijrti.org/papers/IJRTI2501032.pdf |
| Downloads: | 000570 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2501032
Registration ID:200283
Published In: Volume 10 Issue 1, January-2025
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.43188
Page No: a229-a234 Country: PUNE CITY, MAHARASHTRA, India Research Area: Engineering Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2501032 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2501032 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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