Utilizing AI for Cost Optimization in Maintenance Supply Management within the Oil Industry
Lakshmi Narasimha Raju Mudunuri
Vol 10, Special Issue 2024
Page Number: 10 - 18
Abstract:
The production capacities of crude oil suppliers, lengthy lead periods for delivery, the constraints of available means of transportation, and the demands of energy planning and management all contribute to the oil industry's highly rigid logistics network. In managing supply chains, the paper examines the critical elements that can lower expenses and boost profits: demand management; effective petroleum product distribution to clients; improved transportation scheduling; warehouse management; and timely and high-quality information provided by supply chain automation. Additionally, this idea is implemented within the framework of supply chain management, which is the logistics concept of supply chain coordination. The benefits of supply-chain management deployment are also covered in the article. Supply-chain management can be used in the oil business to lower costs, enhance The company's earnings from supply management and delivery scheduling.
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