An Artificial Neural Network Model for a Wholesale Company’s Order-cycle Management

Abstract

The purpose of this article is to verify the possibility of using artificial neural networks (ANN) in business management processes, primarily in the area of supply chain management. The author has designed several neural network models featuring different architectures to optimize the level of the company’s inventory. The results of the research show that ANN can be used for managing a company’s order cycle and lead to reduced levels of goods purchased and storage costs. Optimal neural networks show suitable results for subsequent prediction of the amount of items to be ordered and for achieving reduced inventory purchase and keeping costs down.The purpose of this article is to verify the possibility of using artificial neural networks (ANN) in business management processes, primarily in the area of supply chain management. The author has designed several neural network models featuring different architectures to optimize the level of the company’s inventory. The results of the research show that ANN can be used for managing a company’s order cycle and lead to reduced levels of goods purchased and storage costs. Optimal neural networks show suitable results for subsequent prediction of the amount of items to be ordered and for achieving reduced inventory purchase and keeping costs down.