Turbulence: Procurement new (ab)normal
Procurement spent the last 25 years building complex supply chains. Now they are getting disrupted. Is near-shoring the answer? Procurement faces increasing logistics costs. What is the solution: technology, optimization, new strategy, or prayer? Procurement has to cope with insecure and extremely volatile energy costs. Is there a real, long-term fix? Procurement has to react to environmental turbulence. Are agility and resilience effective or just buzzwords? Procurement is overwhelmed with the speed and depth of supply market change. Is innovation a friend or foe? Should we see all this as a one-in-a-lifetime opportunity or talk to a psychiatrist?
The transformation of procurement through AI
Automation of time-consuming tasks, leading to efficiency gains. Increased accuracy in demand forecasting and inventory management. Machine learning for intelligent sourcing and supplier selection. * Real-time market insights for data-driven decision-making. Improved risk mitigation in the supply chain. * AI-powered contract management for streamlined processes. Enhanced supplier relationship management and performance tracking. Fraud detection and prevention in procurement activities. Continuous improvement through AI-driven feedback analysis. Cost savings and optimized procurement processes.