MACHINE LEARNING'S INFLUENCE ON SUPPLY CHAIN AND LOGISTICS OPTIMIZATION IN THE OIL AND GAS SECTOR: A COMPREHENSIVE ANALYSIS

Authors

  • Agnes Clare Odimarha Shell Nigeria
  • Sodrudeen Abolore Ayodeji Matrix Limited Energy, Lagos, Nigeria
  • Emmanuel Adeyemi Abaku Gerald and Gerald Exchanges, Lagos, Nigeria

DOI:

https://doi.org/10.51594/csitrj.v5i3.976

Abstract

Machine Learning (ML) is revolutionizing supply chain and logistics optimization in the oil and gas sector. This comprehensive analysis explores how ML algorithms are reshaping traditional practices, leading to more efficient operations and cost savings. ML enables predictive analytics, demand forecasting, route optimization, and inventory management, improving overall supply chain performance. Supply chain and logistics in the oil and gas sector are inherently complex, involving numerous interconnected processes and stakeholders. ML algorithms are adept at handling this complexity by analyzing vast amounts of data to identify patterns and optimize operations. By leveraging historical data, ML can predict future demand, enabling companies to adjust their inventory levels and production schedules accordingly. ML algorithms also play a crucial role in route optimization, helping companies minimize transportation costs and reduce carbon emissions. By analyzing factors such as traffic patterns, weather conditions, and road conditions, ML algorithms can determine the most efficient routes for transporting goods and equipment. Furthermore, ML enables predictive maintenance, which is essential in the oil and gas sector to prevent equipment failures and downtime. By analyzing sensor data from equipment, ML algorithms can predict when maintenance is required, allowing companies to schedule maintenance proactively and avoid costly disruptions.  In conclusion, ML is transforming supply chain and logistics optimization in the oil and gas sector by enabling predictive analytics, demand forecasting, route optimization, and predictive maintenance. By leveraging the power of ML, companies in the oil and gas sector can improve operational efficiency, reduce costs, and enhance overall supply chain performance.

Keywords: Machine’s Learning, Supply Chain, Logistics, Optimization, Oil and Gas.

Published

2024-03-28

How to Cite

Agnes Clare Odimarha, Sodrudeen Abolore Ayodeji, & Emmanuel Adeyemi Abaku. (2024). MACHINE LEARNING’S INFLUENCE ON SUPPLY CHAIN AND LOGISTICS OPTIMIZATION IN THE OIL AND GAS SECTOR: A COMPREHENSIVE ANALYSIS. Computer Science & IT Research Journal, 5(3), 725-740. https://doi.org/10.51594/csitrj.v5i3.976

Issue

Section

Articles