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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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Is AI Hype or a Truly Revolutionary Technology Set to Transform Logistics? (AI Popup #3)

Freightos

Like all innovations, however, developing technology as complex as the human brain requires time and significant investment.Here, too, the journey of AI began as far back as 1956 at a workshop on Dartmouth College’s campus in the U.S and has endured several cycles of investment booms and busts.

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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. Procurement was operating in isolation from supply chain. – 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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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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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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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.