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- All Subjects: Supply Chain
- All Subjects: Innovation
- Creators: Department of Supply Chain Management
- Member of: Theses and Dissertations
- Resource Type: Text
The goal of this project is to develop a deeper understanding of how machine learning pertains to the business world and how business professionals can capitalize on its capabilities. It explores the end-to-end process of integrating a machine and the tradeoffs and obstacles to consider. This topic is extremely pertinent today as the advent of big data increases and the use of machine learning and artificial intelligence is expanding across industries and functional roles. The approach I took was to expand on a project I championed as a Microsoft intern where I facilitated the integration of a forecasting machine learning model firsthand into the business. I supplement my findings from the experience with research on machine learning as a disruptive technology. This paper will not delve into the technical aspects of coding a machine model, but rather provide a holistic overview of developing the model from a business perspective. My findings show that, while the advantages of machine learning are large and widespread, a lack of visibility and transparency into the algorithms behind machine learning, the necessity for large amounts of data, and the overall complexity of creating accurate models are all tradeoffs to consider when deciding whether or not machine learning is suitable for a certain objective. The results of this paper are important in order to increase the understanding of any business professional on the capabilities and obstacles of integrating machine learning into their business operations.
Through the process of writing the sustainability report for InnovationSpace program, I had gained deeper understanding about applying sustainability concept into daily business procedures. As supply chain is defined as the oversight over materials, services, information and finances flowed within and among companies and industries, the new innovative supply chain management can be better adjusted according to the concern of any sustainable impact to all the stakeholders and communities. After gathering the information from industries and listening to the suggestions from academic insights, I then finalized the proposed innovative sustainability strategy for the supply chain management nowadays and I called it as Diamond Index.
Diamond Index=Avg(Environmental Stewardship+Social Responsibility +Economic Impact)^(Innovation Index)
Economic Impact (Econ)∈ [0, 10] Social Responsibility (Soc)∈[0, 10]
Environmental Stewardship (Env) ∈ [0, 10] Innovation ∈ [0, 1]
This thesis looks at the digitalization process holistically. It recognizes that for a digitalization initiative to be successful, it takes input from multiple departments and experts from diverse backgrounds. This paper will be evaluating the interconnectivity needed between the supply chain and human resources departments to spearhead the creation of a digitalization team. Both sectors must have a firm understanding of the other’s needs, in order to acquire, train, and maintain people who will have the necessary hard and soft skills to develop the digital processes. After conducting extensive research around hiring and training, the researchers identified several best practices that companies can utilize to build a successful digital logistics team. Regarding hiring, companies can improve their current practices by collaborating with universities to create synergy between enterprise needs and college curriculum, as well as utilizing talent acquisition data analytics. They must also employ targeted recruiting strategies to attract high-quality talent and create explicit and attractive job postings. In addition to hiring, companies must also continuously improve their training initiatives to ensure their team’s success. In order to do so, firms should conduct training needs analysis, personalize training using technology, offer non-traditional learning modalities, provide holistic supply chain training, and create a learning culture.