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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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Agile Strategic Sourcing for a Resilient Supply Chain

The Logistics & Supply Chain Management Society

Procurement, activities such as strategic sourcing, are one of the main processes in the supply chains that can generate a positive impact on companies by giving them a competitive advantage in the market. Strategic sourcing can help supply chain leaders identify potential risk factors and develop procurement mitigation plans.

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Preparing to Run Supply Chains at the End of the Second Global Economy

Supply Chain Shaman

Supply chain leaders were slow to adopt advances in Big Data Analytics. In parallel, PE/venture capitalists purchased/consolidated network solutions, slashing R&D and delaying investment, reducing industry capabilities. – The Myopic Focus on Cost Reduces Effectiveness. – Technology Evolution Outpaced Adoption.

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Carbon Neutrality by 2050: The Net Zero Journey

ivalua

As a Procurement Leader, carbon neutrality by 2050 should be a central focus and Dr. Natacha Tréhan’s comprehensive research offers practical tips to get you on track. First, let’s start with procurement and how it plays a significant role in reducing the carbon footprint with 3 key areas of impact: – Actions with suppliers.

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Five Trends That Excite Me!

Supply Chain Shaman

I am facilitating a workshop between supply chain business visionaries and technology innovators. The SAP acquisition of Ariba slowed innovation and the purchase, and then the failed promise of investment in Crossgate was disappointing to SAP supply chain business users. Building the Network of Networks. We are looking for answers.

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4 Ways To Improve Procurement For Increased Customer Satisfaction

Slimstock

Andrew Thomas, founder of Skybell Video Doorbell, reports that it takes roughly 40 positive customer experiences to undo the damage of a single negative review. Though it’s often overlooked as an element of customer satisfaction, procurement is an essential component for delivering that satisfaction. 4 Ways to Improve Procurement.

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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. This provides a single source of truth and enables better coordination and communication across the supply chain.