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How can predictive machine learning help supplier? 


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Predictive machine learning can help suppliers in several ways. By analyzing historical sales data and relevant factors, machine learning algorithms can accurately forecast sales volume, enabling suppliers to adjust their production and supply chain strategies accordingly . Machine learning techniques, such as neural networks, have proven to be effective in demand forecasting, improving the efficiency of the supply chain . Additionally, machine learning can identify hidden patterns and trends within data, allowing suppliers to predict demand and make informed decisions about inventory management and production planning . Machine learning can also be applied in supplier selection processes, providing forecasting abilities that help suppliers anticipate the relationship between alternative bids and supplier bid prices, reducing negotiation times and procurement costs . By combining machine learning classification with decision-making techniques, such as the Analytic Hierarchy Process, suppliers can select and evaluate the most suitable suppliers more efficiently .

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Papers (5)Insight
Proceedings ArticleDOI
Linwen Xu, Feng Qian 
23 Sep 2010
1 Citations
Predictive machine learning can help suppliers by forecasting bid prices in supplier selection negotiations, providing negotiation support and recommendations to decrease negotiation times, reduce procurement costs, improve efficiency, and shorten supplier selection lead-time.
The provided paper does not directly mention how predictive machine learning can help suppliers.
The paper does not provide specific information on how predictive machine learning can help suppliers. The paper focuses on how machine learning can be used for sales forecasting and decision-making in enterprises.
The paper does not provide information on how predictive machine learning can help suppliers. The paper focuses on using predictive machine learning for supply chain data analytics to predict supplier disruptions in complex asset manufacturing.
The paper does not specifically mention how predictive machine learning can help suppliers. The paper focuses on the use of machine learning for demand forecasting in supply chain management.

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