AI in Supply Chain Management

AI in Supply Chain Management

Assessment

Flashcard

Business

University

Practice Problem

Hard

Created by

r9n22txbsz apple_user

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13 questions

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1.

FLASHCARD QUESTION

Front

What is Artificial Intelligence (AI) in the context of Supply Chain Management (SCM)?

Back

AI refers to the simulation of human intelligence processes by machines, especially computer systems, used in SCM to optimize processes such as demand forecasting, inventory management, and transportation optimization.

2.

FLASHCARD QUESTION

Front

What are the benefits of implementing AI in supply chain management?

Back

Benefits include enhanced demand forecasting, improved inventory management, optimized transportation and logistics, increased operational efficiency, and automation of routine tasks.

3.

FLASHCARD QUESTION

Front

How does AI enhance demand forecasting?

Back

AI uses predictive analytics and machine learning models to analyze historical sales data, market trends, and external factors to predict future demand patterns.

4.

FLASHCARD QUESTION

Front

What role does AI play in inventory management?

Back

AI facilitates automated stock replenishment, optimizes inventory levels, reduces holding costs, and minimizes the risk of stockouts.

5.

FLASHCARD QUESTION

Front

How does AI impact transportation and logistics?

Back

AI optimizes delivery routes, predicts maintenance needs, and provides real-time tracking, leading to reduced fuel consumption and delivery times.

6.

FLASHCARD QUESTION

Front

What is the significance of AI in supplier relationship management?

Back

AI analyzes supplier performance data, assesses risks, and manages contracts, helping identify top-performing suppliers and areas needing improvement.

7.

FLASHCARD QUESTION

Front

How does AI optimize production planning?

Back

AI aligns production schedules with demand forecasts, allocates resources efficiently, and enhances quality control by analyzing production data.

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