Machine Learning in Supply Chain - TransVoyant

Machine learning is not a new topic nor is it new to supply chain. However, it has been garnering a lot of attention within supply chain due to its transformational business potential. The basic premise of machine learning is to build algorithms that can receive input data and use statistical analysis to predict an output value within an acceptable range." Machine learning is often categorized as being supervised and unsupervised. Supervised machine learning algorithms can apply what has been learned in the past to new data using labeled examples to predict future events.