Machine Learning and Deep Learning Models for Demand Forecasting in Supply Chain Management: A Critical Review

Abstract

This paper presents a comprehensive review of machine learning (ML) and deep learning (DL) models used for demand forecasting in supply chain management. By analyzing 119 papers from the Scopus database covering the period from 2015 to 2024, this study provides both macro- and micro-level insights into the effectiveness of AI-based methodologies. The macro-level analysis illustrates the overall trajectory and trends in ML and DL applications, while the micro-level analysis explores the specific distinctions and advantages of these models. This review aims to serve as a valuable resource for improving demand forecasting in supply chain management using ML and DL techniques.

Keywords

• AI-driven demand forecasting
• supply chain
• Scopus
• literature review
• macro-level analysis
• micro-level evaluation