Optimizing Supplier Selection Process Using Artificial Intelligence in Purchasing and Supply Chain Management

Thesis Abstract

Abstract
The effective selection of suppliers is crucial for the success of organizations in the competitive landscape of the global market. This research project focuses on optimizing the supplier selection process using artificial intelligence (AI) in purchasing and supply chain management. The integration of AI technologies in supplier selection processes promises to revolutionize traditional practices, enhance decision-making processes, and improve overall supply chain performance. Chapter 1 introduces the research topic, providing a comprehensive overview of the background, problem statement, objectives, limitations, scope, significance, structure of the thesis, and definition of key terms. The chapter sets the foundation for understanding the importance of optimizing supplier selection processes through AI in the context of purchasing and supply chain management. Chapter 2 presents a detailed literature review encompassing ten key areas related to supplier selection, artificial intelligence, and supply chain management. This chapter explores existing theories, models, methodologies, and empirical studies that contribute to the understanding of the research topic and provide a theoretical framework for the study. Chapter 3 outlines the research methodology employed in this study, including research design, data collection methods, sampling techniques, data analysis procedures, and ethical considerations. The chapter highlights the systematic approach taken to investigate the application of AI in optimizing supplier selection processes within the context of purchasing and supply chain management. Chapter 4 presents a comprehensive discussion of the research findings, analyzing the impact of AI technologies on supplier selection processes and their implications for supply chain performance. The chapter examines the benefits, challenges, and opportunities associated with the integration of AI in supplier selection and provides insights into best practices for implementation. Chapter 5 offers a conclusive summary of the research findings, reiterates the key contributions of the study, and presents recommendations for future research and practical implications for organizations seeking to enhance their supplier selection processes using AI. The chapter underscores the significance of leveraging AI technologies in purchasing and supply chain management to achieve competitive advantages and sustainable success in the dynamic business environment. In conclusion, this thesis contributes to the body of knowledge in the field of purchasing and supply chain management by exploring the potential of AI in optimizing supplier selection processes. The research findings underscore the transformative power of AI technologies in enhancing decision-making processes, improving supply chain efficiency, and driving organizational competitiveness. By embracing AI in supplier selection, organizations can navigate the complexities of the modern supply chain landscape and achieve strategic sourcing objectives effectively.