AI will transform procurement by automating complex processes and improving collaboration. Credit: Shutterstock/Andrey_Popov Supply chain operations are often stymied by inefficiencies that result in higher costs, longer lead times, and dissatisfied customers. These inefficiencies stem from manual processes that slow operations down, data silos that worsen decision making and a lack of visibility into supply chain activities, including procurement. By implementing cutting-edge AI solutions into supply chain operations, procurement teams can overcome these challenges. Since data is the fuel for AI, unlocking its full potential is only possible when organizations have mastered data management. “Over the next decade, AI and data management will redefine procurement by automating complex decision-making, enhancing supplier collaboration, and improving risk management,” says Santosh Nair, chief product officer at GEP. However, according to Foundry research […]
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