AI in Supply & Procurement

Abstract

For procurement organizations challenge is always to identify suppliers they should be evaluating, who are the leading suppliers in there gion, and what may ensue that could impact future buying decisions such as potential market consolidation, and mergers and acquisitions. AI can search and extract relevant information across thousands of digital sources and utilize any contextual training on procurement market intelligence to quickly understand and sort in various categories and subjects across procurement”.In the domain of procurement, the benefits of Big Data and AI can be significant.. AI and Big data can serve impact able contribution in respect of raw material prices, lead time, environmental and business risks supplier might face in particular geography. With right decision making and experienced leadership organizations can achieve noticeable improvement in procurement and supply chain.

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