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Revolutionizing Procurement: The Power of AI in Vendor Management Systems

Smart Data Collective

Vendor Management Systems (VMS) have become an indispensable tool for streamlining procurement and fostering strong vendor relationships. As AI reshapes traditional operational landscapes, the procurement sector stands on the cusp of a new era. Conclusion In conclusion, AI’s integration into VMS is revolutionizing procurement.

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Can AI Mitigate Inherent Procurement Risks from the Supply Chain?

Dataversity

Everyone involved in the supply chain knows procurement is an integral part of any business. But there is a hidden risk in the procurement process. Companies may experience various problems in the procurement process, […]. The post Can AI Mitigate Inherent Procurement Risks from the Supply Chain?

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AI and ML to Become Critical for Procurement Teams in 2023

Dataversity

The procurement technology (ProcureTech) industry has come a long way since its humble beginnings. Just think, procurement professionals used basic tools like pen and paper and – at least more recently – long, winding spreadsheets.

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Logistics, Data, and AI: Key Learnings from the Pandemic

Dataversity

And with this in mind, earlier this year, we commissioned an in-depth report on how the pandemic impacted the freight procurement industry, by speaking with hundreds of shippers with $100 million-plus in annual freight spend. The supply chain business is evolving incredibly rapidly – particularly when it comes to how it uses technology.

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Seven Benefits of Using AI to Perform Text Analysis

Smart Data Collective

Multiple emails, social media posts, blogs, articles, and other text forms are generated daily. When machines can easily procure needed information from a pile of unorganized data, you know the benefits of such technology are enormous. Businesses are including more of it in their companies and adopting methods like AI text analysis. .

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Your Definitive Guide To Modern & Professional Procurement Reports

Data Pine

In fact, an IDC study showed that over 80% of business leaders surveyed from sales, HR, procurement, and other departments agreed that issues arise because companies are equipped with different internal systems and applications that don’t ‘talk’ to one other. And procurement reporting is no exception to this.

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Quality Control Tips for Data Collection with Drone Surveying

Smart Data Collective

As more surveying companies harness the power of drones, they are compiling more data that can be used for energy procurement construction, oil drilling, defense applications and many other purposes. Indiana Lee discussed these benefits in an article for Drone Blog. Drone surveyors must also know how to gather and use data properly.