Authors: Oluwashola Aremu, Dan Taiye
This study explores the application of neural networks to predict product delivery times in procurement processes, utilizing a large synthetic dataset. As timely delivery is crucial for supply chain efficiency, accurate prediction of procurement timelines can significantly enhance operational planning and resource allocation. Our research employs a multi-layer neural network model trained on a synthetically generated dataset of 1 million entries. The dataset incorporates key procurement attributes including purchase value, complexity, procurement method, product type, number of potential suppliers, urgency, organizational size, team experience, budget availability, geographical location, season, and industry sector. By using synthetic data, we overcome common limitations in procurement research such as data scarcity and confidentiality issues, while still capturing the complex interrelationships between variables. The neural network model demonstrates promising results in predicting delivery times, outperforming traditional linear regression models. Our findings suggest that certain attributes, such as complexity, procurement method, geographical location and budget availability have a more significant impact on delivery time predictions. The study also highlights the potential of machine learning techniques in procurement analytics and decision support. While based on synthetic data, this research provides a foundation for future studies using real-world procurement data. It also offers insights into the key factors influencing procurement timelines and demonstrates the potential of neural networks in enhancing procurement efficiency.
Comments: 14 Pages.
Download: PDF
[v1] 2024-09-15 23:04:23
Unique-IP document downloads: 175 times
Vixra.org is a pre-print repository rather than a journal. Articles hosted may not yet have been verified by peer-review and should be treated as preliminary. In particular, anything that appears to include financial or legal advice or proposed medical treatments should be treated with due caution. Vixra.org will not be responsible for any consequences of actions that result from any form of use of any documents on this website.
Add your own feedback and questions here:
You are equally welcome to be positive or negative about any paper but please be polite. If you are being critical you must mention at least one specific error, otherwise your comment will be deleted as unhelpful.