Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven Approach
This study systematically investigates the pivotal role of inventory management within the framework of “cloud supply chain” operations, emphasizing the efficacy of leveraging machine learning methodologies for inventory allocation with the dual objectives of cost reduction and heightened customer s...
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| Format: | Article |
| Language: | English |
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MDPI AG
2024-02-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/12/4/573 |
| _version_ | 1797297520758489088 |
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| author | Yue Tan Liyi Gu Senyu Xu Mingchao Li |
| author_facet | Yue Tan Liyi Gu Senyu Xu Mingchao Li |
| author_sort | Yue Tan |
| collection | DOAJ |
| description | This study systematically investigates the pivotal role of inventory management within the framework of “cloud supply chain” operations, emphasizing the efficacy of leveraging machine learning methodologies for inventory allocation with the dual objectives of cost reduction and heightened customer satisfaction. Employing a rigorous data-driven approach, the research endeavors to address inventory allocation challenges inherent in the complex dynamics of a “cloud supply chain” through the implementation of a two-stage model. Initially, machine learning is harnessed for demand forecasting, subsequently refined through the empirical distribution of forecast errors, culminating in the optimization of inventory allocation across various service levels.The empirical evaluation draws upon data derived from a reputable home appliance logistics company in China, revealing that, under conditions of ample data, the application of data-driven methods for inventory allocation surpasses the performance of traditional methods across diverse supply chain structures. Specifically, there is an improvement in accuracy by approximately 13% in an independent structure and about 16% in a dependent structure. This study transcends the constraints associated with examining a singular node, adopting an innovative research perspective that intricately explores the interplay among multiple nodes while elucidating the nuanced considerations germane to supply chain structure. Furthermore, it underscores the methodological significance of relying on extensive, large-scale data. The investigation brings to light the substantial impact of supply chain structure on safety stock allocation. In the context of a market characterized by highly uncertain demand, the strategic adaptation of the supply chain structure emerges as a proactive measure to avert potential disruptions in the supply chain. |
| first_indexed | 2024-03-07T22:22:31Z |
| format | Article |
| id | doaj.art-1bc7db08f30f49a5b10d69f83f68dfa1 |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-03-07T22:22:31Z |
| publishDate | 2024-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-1bc7db08f30f49a5b10d69f83f68dfa12024-02-23T15:26:11ZengMDPI AGMathematics2227-73902024-02-0112457310.3390/math12040573Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven ApproachYue Tan0Liyi Gu1Senyu Xu2Mingchao Li3College of Business, Southern University of Science and Technology, Shenzhen 518055, ChinaCollege of Business, Southern University of Science and Technology, Shenzhen 518055, ChinaSchool of Business, Shenzhen Institute of Technology, Shenzhen 518000, ChinaSchool of Business, Shenzhen Institute of Technology, Shenzhen 518000, ChinaThis study systematically investigates the pivotal role of inventory management within the framework of “cloud supply chain” operations, emphasizing the efficacy of leveraging machine learning methodologies for inventory allocation with the dual objectives of cost reduction and heightened customer satisfaction. Employing a rigorous data-driven approach, the research endeavors to address inventory allocation challenges inherent in the complex dynamics of a “cloud supply chain” through the implementation of a two-stage model. Initially, machine learning is harnessed for demand forecasting, subsequently refined through the empirical distribution of forecast errors, culminating in the optimization of inventory allocation across various service levels.The empirical evaluation draws upon data derived from a reputable home appliance logistics company in China, revealing that, under conditions of ample data, the application of data-driven methods for inventory allocation surpasses the performance of traditional methods across diverse supply chain structures. Specifically, there is an improvement in accuracy by approximately 13% in an independent structure and about 16% in a dependent structure. This study transcends the constraints associated with examining a singular node, adopting an innovative research perspective that intricately explores the interplay among multiple nodes while elucidating the nuanced considerations germane to supply chain structure. Furthermore, it underscores the methodological significance of relying on extensive, large-scale data. The investigation brings to light the substantial impact of supply chain structure on safety stock allocation. In the context of a market characterized by highly uncertain demand, the strategic adaptation of the supply chain structure emerges as a proactive measure to avert potential disruptions in the supply chain.https://www.mdpi.com/2227-7390/12/4/573cloud supply chainmachine learninginventory optimization |
| spellingShingle | Yue Tan Liyi Gu Senyu Xu Mingchao Li Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven Approach Mathematics cloud supply chain machine learning inventory optimization |
| title | Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven Approach |
| title_full | Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven Approach |
| title_fullStr | Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven Approach |
| title_full_unstemmed | Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven Approach |
| title_short | Supply Chain Inventory Management from the Perspective of “Cloud Supply Chain”—A Data Driven Approach |
| title_sort | supply chain inventory management from the perspective of cloud supply chain a data driven approach |
| topic | cloud supply chain machine learning inventory optimization |
| url | https://www.mdpi.com/2227-7390/12/4/573 |
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