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AI in procurement: Applications, Challenges, and Mitigation Strategies

Precoro

Traditionally, procurement has been a process weighed down by manual tasks, fragmented systems, and endless paperwork. Today, procurement is undergoing a transformation. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact.

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What is Supplier Relationship Management (SRM)?

Supply Chain Game Changer

He spent his entire career in Purchasing and Procurement. But it became apparent to me that whenever there were problems with a supplier, whether it be cost, quality or delivery for instance, there were those would would talk about those suppliers in a derisive manner. It applied to anyone and everyone, including suppliers.

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Why You Should Conduct Internal Quality Audits

Arena Solutions

Leveraging internal audits to align quality management with key business metrics When asked what are the benefits of conducting an internal audit? Christine said, “I have used internal audits as the baseline to improve our overall business metrics.

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What is Enterprise Resource Planning (ERP)?

ThroughPut

An effective ERP manages day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations. Key features include general ledger, accounts payable, accounts receivable, cash management, budgeting, and financial reporting.

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Procurement Leadership Program can help individuals market the real value of procurement to the enterprise

NC State SCRC

Gene Richter is widely known as one of the world’s true procurement gurus, and I was privileged to have known him when he came to speak several times at Michigan State during the 1992-1999 period when I was there. And when I say value, I mean more than just cost savings, or the infamous “purchase price avoidance” metric.

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3 Considerations On Your Commerce Transformation Journey

BlueYonder

This evaluation should be based on a quantifiable understanding of three key metrics: value, complexity and interdependencies. Value This metric sounds obvious but is often overlooked. Post-order sourcing optimization reduces the total cost of fulfillment by considering multi-factor optimization.

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How Suppliers Demonstrate Best Practices to Buyers

SupplyShift

According to Gartner’s Future of Supply Chain: Crisis Shapes the Profession report, 77% of companies say that they’re investing in deeper and more collaborative supplier relationships to build resilience. For example, procurement, quality, and sustainability divisions at larger companies often sort suppliers into segments.