Optimal Inventory Allocation in Supply Chain Using Decision Optimization

The success of a business primarily depends on the efficiency of its supply chain. An enterprise with a well-organized supply chain may significantly reduce majority of the expenses connected to that chain, which contributes to a greater profit and customer satisfaction. Existing systems mainly stress on delivery time and order management systems to ensure smooth running of a supply chain. However, when optimization starts at the inventory level, based on forecasted or available demand and customer data, the functioning of the supply chain can be made more efficient. The utilization of Machine Learning and Decision Optimization has helped in further improvement in the field of inventory optimization.