Using AI for inventory management at Intel

Abstract

Artificial also Known as Al is a new tool which is being used in several aspects of business. Now a daysgij has found its uses across the domain like Human Resource, Operations, Safety etc. As per John McCarthy Al is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but Al does not have to confine itself to methods that are biologically observable: ' Al: Intelligence demonstrated by machine which imitates Human Machine Learning: Giving computers skills to learn without explicit training Deep Learning: This is subset of ML, which examines the algorithm that is self learning and improve upon it When we come to operations and Supply chain aspect of it, Inventory control is important aspect which affect the direct bottom-line of business and there is a fine line of balance where too less takes us towards loss and too more eats up valuable space and blocks our money. Al based tools have algorithm such that they continuously learn, decide and solve the problem. It uses methodologies like time series prediction, reinforcement of past learnings and predict the future trend or make sense out of vast pool of ata which helps to take decisions. Although Al does all these activity Human intervention is necessary for continuous course correction and decision making. Al has its own limitations and and have difference compared to traditional tools. Al will be able to predict the scenarios, decide and take action but humans are needed to validate the claim made by Al and have the final decision on it. Al powered inventory management addresses the issues like minimum order quantity, optimum inventory level issues, maximum safety level shall be maintained and eventually efficient use of working capital. This reduces effort of business and allows then to invest resources in less monotonous and laborious work.