Applications of Artificial Intelligence in Inventory Management: A Systematic Review of the Literature

Today, companies that want to keep up with technological development and globalization must be able to effectively manage their supply chains to achieve high quality, increased efficiency, and low costs. Diversified customer needs, global competitors, and market competition have led companies to pay...

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Bibliographic Details
Published in:Archives of computational methods in engineering 2023-05, Vol.30 (4), p.2605-2625
Main Authors: Albayrak Ünal, Özge, Erkayman, Burak, Usanmaz, Bilal
Format: Article
Language:English
Subjects:
Algorithms
Artificial intelligence
Engineering
Globalization
Inventory
Inventory management
Literature reviews
Machine learning
Mathematical and Computational Engineering
Review Article
Supply chains
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Summary:Today, companies that want to keep up with technological development and globalization must be able to effectively manage their supply chains to achieve high quality, increased efficiency, and low costs. Diversified customer needs, global competitors, and market competition have led companies to pay more attention to inventory management. This article provides a comprehensive and up-to-date review of Artificial Intelligence (AI) applications used in inventory management through a systematic literature review. As a result of this analysis, which focused on research articles in two scientific databases published between 2012 and 2022 for detailed study, 59 articles were identified. Furthermore, the current situation is summarized and possible future aspects of inventory management are identified. The results show that the interest in AI methods has increased in recent years and machine learning algorithms are the most commonly used methods. This study is meticulously and comprehensively conducted so it will probably make significant contributions to the further studies in this field.
ISSN:1134-3060
1886-1784
DOI:10.1007/s11831-022-09879-5