AI in Auditing & Taxation Services: How Procurement Can Help Achieve More Value
This paper is a must-read for procurement professionals looking to ensure that their tax and auditing functions make the most of AI and RPA.
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5 Examples of AI in Supply Chains
February 20, 2024 | Supply Chain Strategy
This blog delves into the practical examples of AI in supply chains and how organizations can create a smarter, resilient, and sustainable supply chain by embracing these applications. Read this blog to learn more.
End-to-End Supply Chain Visibility: How AI and Data Connect the Dots
November 27, 2023 | Supply Chain Software
Navigating the intricacies of supply chain management (SCM) is no easy feat, presenting a formidable challenge for organizations across the spectrum.
Whether grappling with the complexities of small businesses, startups, or expansive global conglomerates, achieving an optimal return on investment demands a juggling act involving spend activities, logistics, risk management and supplier relationships.
Unfortunately, the absence of end-to-end supply chain visibility increases the likelihood of failing on one or more of these aspects, resulting in costly repercussions.
Why You Can’t Overlook AI Solutions in Supply Chains
September 29, 2023 | Supply Chain Software
Businesses of all sizes have had to deal with supply chain disruptions in recent times. With too many of these disruptions, they need a robust plan about how to effectively deal with supply-related risks. Along with this, they need to accelerate innovation, enhance customer experience and get end-to-end supply chain visibility all while keeping costs in check.
AI in Inventory Management: Decoding the Challenge
September 22, 2023 | Inventory Management Software
Managing inventory has always been a complex task for enterprises, with the need to constantly juggle stock levels to ensure products are available right when customers want them — and at the same time, minimizing holding costs. Inventory management has so far been based on historical data, some set rules, and at times gut feeling. But this approach has reached its saturation, showcasing its many limitations!
Adopting an AI-First Approach in Procurement: What, Why and How
Procurement leaders must act fast to make AI the centerpiece of their strategy — everything from data-driven decision-making to strategic sourcing. While it is imperative to take an AI-first approach to get ahead, procurement pros must carefully navigate uncharted territory.
This GEP-Procurement Leaders webinar — Adopting an AI-First Approach in Procurement: What, Why and How — defines the steps to building an AI-driven procurement function.
Machine Learning in Demand Forecasting: Taming Demand Volatility
September 12, 2023 | Procurement Software
Within the complex supply chain management landscape, professionals grapple with a recurring challenge: the unpredictable fluctuations in product demand, known as demand volatility. This phenomenon has several origins, ranging from weather conditions to economic recessions.
The Rise of AI in Sourcing Technology
July 03, 2023 | Source to Pay
Traditional sourcing methods have relied on manual systems like spreadsheets and fragmented reports. These methods are slow and not equipped to handle the rapid pace of change in today's markets.
Now, with advances in sourcing technology, vast amounts of data can be processed in real-time, providing organizations with actionable insights to make strategic decisions.
Data analytics can help companies forecast market trends, prepare for potential disruptions, and optimize their procurement strategies.
6 Ways Generative AI Can Improve Supply Chain & Procurement Productivity
June 29, 2023 | Procurement Software
Generative AI tools such as ChatGPT and Bard are poised to become a game-changer for supply chain and procurement professionals. By using this technology, professionals can improve their efficiency and productivity, and make better decisions that will benefit their organizations. These large language models can be used to improve search capacity, automate tasks, identify patterns, and make predictions that would otherwise be time-consuming. The result? Significant savings in time and money, as well as improved decision-making.
Adopting AI Responsibly: Guidelines for Procurement of AI Solutions by the Private Sector
It is socially and commercially necessary that organizations acquire AI solutions responsibly. In this paper, the WEF and GEP present a structured framework and assessment criteria to aid the end-to-end procurement of AI solutions.
