In the era of Industry 5.0, marked by cutting-edge technologies that enhance manufacturing processes, the supply chain constitutes a pivotal component that connects manufacturers with consumers. This work focuses on the emergence of artificial intelligence (AI) in various applications, including demand forecasting, inventory optimization, logistics, predictive maintenance, and risk management. These bring numerous benefits to modern businesses, such as enhancing operational efficiency, decision-making, and customer satisfaction. To this end, we highlight the strategic balance required between upcoming challenges, current opportunities, and prospects based on this technological advancement.