How AI Can Help Identify and Accelerate M&A Synergy Opportunities
AI, automation and advanced analytics are critical in determining if a potential acquisition will truly add value.
June 06, 2023 | Procurement Software
As generative AI starts to transform various aspects of procurement and supply chain, GEP has taken the lead in integrating OpenAI’s ChatGPT technology into its suite of software solutions.
AI, automation and advanced analytics are critical in determining if a potential acquisition will truly add value.
May 02, 2023 | Supply Chain Strategy
If there was any doubt about how artificial intelligence can change the business landscape, the launch of ChatGPT has proved to be decisive.
Businesses across industries are currently exploring how they can make the best use of this generative AI tool.
In fact, nothing perhaps is more important for a business today, considering the technology’s growing popularity as well as the extent to which it can impact (and simplify) business processes.
April 24, 2023 | Procurement Software
Let’s face it. No one can accurately predict how generative AI tools such as ChatGPT will play out. At the outset, it may seem, and correctly so, that the rewards of adopting generative AI outweigh the risks, but only with strong guardrails in place.
As for harnessing the power of ChatGPT in the procurement process, there is a definite promise of achieving enhanced efficiency and reduced costs.
April 06, 2023 | Supply Chain Software
The role of advanced analytics is becoming essential across supply chains as they become global, more complex and extensively data driven. Advanced analytics analyzes data in real-time, predicts future scenarios and prescribes the best course of action, reducing the need for guesswork.
Leading businesses leverage the entire spectrum of advanced analytics to optimize their supply chain and procurement processes, navigate volatility and drive savings. Here is a quick overview of the four types of analytics:
How can procurement teams use ChatGPT to their advantage? This bulletin looks at some practical use cases to test the tool and the value generative AI can deliver in the future.
March 02, 2023 | Oil and Gas
The oil and gas sector is facing issues such as lack of accessible hydrocarbon deposits, expensive exploration and risky production. Sustainability considerations are also driving demand away from dirty fossil fuel sources and toward cleaner ones.
AI can help transform the oil and gas industry by improving quality assurance and in assisting workers, reducing pipeline corrosion, enabling smart procurement, shipping transparency, optimal replenishment digital category management, and discovering new perspectives.
December 27, 2022 | Supply Chain Software
The digital world has brought forth a new era of technology and innovation that is transforming the way businesses operate. Supply Chain 4.0 is the latest wave of disruption in the supply chain industry and it’s ushering in a new era of efficiency and productivity.
This article will explore the concept of Supply Chain 4.0, its benefits, use cases, and examples. We will also discuss the challenges related to Supply Chain 4.0 and the keys to success.
December 22, 2022 | Procurement Software
How can businesses adapt quickly to a new normal?
The simple answer: By acting proactively and countering challenges before they arise.
And they must leverage predictive analytics to succeed in these efforts.
Predictive analytics is a powerful tool that can be used to improve the efficiency and effectiveness of procurement processes.
December 07, 2022 | Supply Chain
Supply chain data can be analyzed and processed by AI from both structured and unstructured data to provide real-time insights across all stages of a supply chain. This article will discuss that with some examples. Let's begin with the definition.