Building Supply Chain Resilience Using Artificial Intelligence in Risk Management Systems

Mayank Gaurav ()
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Mayank Gaurav: Tata Consultancy Services

A chapter in Smart Services Summit, 2024, pp 55-67 from Springer

Abstract: Abstract Supply chains are under continuous threat from disruptions. The need of the hour is not just to respond quickly but to adapt. Most of the tools available in the market use uni-directional frameworks without any feedback loop which necessitates periodic human intervention. Even the studies on supply chain risk management (SCRM) focus on designing mathematical models for which business applicability is very low. Therefore, this paper will explore the use of Artificial Intelligence (AI) in SCRM with the objective of providing frameworks and strategies that can be used by businesses. The study will explore four dimensions critical to AI-based risk management tool. Firstly, it investigates the various classifications of the uncertainties. Secondly, it examines existing frameworks and possibilities of enhancing these frameworks to integrate AI. Thirdly, it will inspect the algorithms which could be used in making our enhanced framework dynamic yet robust. Lastly, guidance is provided to businesses to use the enhanced framework to develop supply chain risk management system.

Keywords: AI in risk management; Supply chain risk management; Bow-Tie framework; LLMs in SCRM (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prochp:978-3-031-60313-6_5

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DOI: 10.1007/978-3-031-60313-6_5

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