Due to supply shortages and the need for real-time data, procurement and supply chain officials are seeking data-driven decision-makers and AI-powered insights to optimize their strategies. The time for a digital transformation is now.
Technology advancements are initiating the digitalization of procurement and supply chain management. It is changing the way products and services are processed and delivered, and enabling new ways to share information.
reduction in process costs via digital transformation
of executives believe AI will enable the creation of new products & services
The AI Journal
accelerated negotiation cycles and cut costs through adoption of AI
of supply chain organizations will invest in AI and advanced analytics
of executives think that AI will make business processes more efficient
of executives anticipate AI will help create new business models
The AI Journal
How often is AI used in procurement and how does it impact the procurement process?
CPO's are using or piloting AI and cognitive solutions for procurement
of CPO's indicate that they are using advanced analytics
of manufacturers are using AI to improve product quality, supply chain speed & visibility, and inventory management
Procurement Intelligence Benefits
Leverage AI in Procurement and Supply Chain
- Mitigate risk
- Increase cost savings
- Improve ESG score
- Enhance productivity
- Connect systems for a single source of truth
- Instant insights for strategy formulation