International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 11 Issue: 09 | Sep 2024
p-ISSN: 2395-0072
www.irjet.net
Optimsing Supply Chain Management for Indian Retail Success Sarthak Chandwadkar1, Yuvraj Agarkar2, Devashish Potdar3, Aishwarya Patil4, Prof. Gayatri Asalkar5 1,2,3,4UG student, Department of Computer Engineering, JSPM’s Rajarshi Shahu College of Engineering, Tathawade,
Pune
5Professor, Department of Computer Engineering, JSPM’s Rajarshi Shahu College of Engineering, Tathawade, Pune
---------------------------------------------------------------------***--------------------------------------------------------------------Abstract - — India's supply chains have been susceptible for a long time. Unexpected events such as COVID-19 and international conflicts present obstacles for supply chain management. Supply chain management is an important component of company that has encountered challenges due to increased demand and restricted supply. According to PwC's 26th Global Annual CEO Survey: India Perspective, about half of Indian CEOs are concerned about supply chain disruptions, while approximately 67% are changing supply chains. The goal of optimizing supply chain management for Indian retail success is to revolutionize demand forecasting, demand planning, and inventory optimisation through the use of artificial intelligence and machine learning tools. The goal is to implement solutions that will lower operational expenses while increasing customer satisfaction. Optimising supply chain management for Indian retail success describes a smart supply chain management system that uses machine learning and artificial intelligence to improve efficiency, save costs, and promote sustainability [4]. This user-friendly desktop tool enables merchants to tailor solutions to their individual needs by leveraging sales data and other relevant characteristics.
Fig 1: Logistic Infrastructure of India
I.INTRODUCTION In recent years, the Indian retail sector has experienced unprecedented growth and transformation, fueled by technological advancements, changing consumer preferences, and increasing competition. As the retail landscape evolves, businesses must navigate a complex web of supply chain dynamics to maintain a competitive edge. Effective supply chain management (SCM) is critical for ensuring product quality and availability, which directly impacts customer satisfaction and brand loyalty. However, the journey from suppliers to retailers presents numerous challenges, including accurately forecasting consumer preferences and managing inventory effectively. These challenges underscore the need for innovative solutions that can optimize supply chain processes and enhance operational efficiency.
Divided into three phases Demand Forecasting Demand Planning Inventory Optimisation Optimising supply chain management for Indian retail success describes a smart supply chain management system that uses machine learning and artificial intelligence to improve efficiency, save costs, and promote sustainability [11]. This user-friendly desktop tool enables merchants to tailor solutions to their individual needs by leveraging sales data and other relevant characteristics.
This thesis focuses specifically on optimizing supply chain management within the Indian retail sector, with an emphasis on developing an intelligent system to address the multifaceted challenges faced by businesses. By exploring the current state of supply chain practices in India, we aim to identify gaps and opportunities for improvement that can lead to enhanced product quality and customer satisfaction. The scope of this research will encompass the analysis of existing SCM practices, identification of key challenges, and the development of a proposed intelligent system designed to streamline operations and improve decision-making.
Key Words: : Indian Supply Chain, Machine Learning, Supply Chain Management, Artificial Intelligence, Retail Distribution.
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