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Generative AI for procurement lets you eliminate the mundane, elevate the strategic, and get ready for the future

Timo Elliott

I recently got the chance to do an AI overview session for a group of procurement specialists, so here are some thoughts on some of the topics we touched upon. First, procurement is hard! The good news is that artificial intelligence can help. The good news is that artificial intelligence can help.

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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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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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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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Seven Benefits of Using AI to Perform Text Analysis

Smart Data Collective

Artificial intelligence is often portrayed as a technology that will make robots rule over humans. Artificial intelligence, machine learning, and advanced data analytics techniques come together to accomplish this. It uses artificial intelligence to transform the data into how humans write and speak.

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90% Of Saas Buyers Overpay for AI-Driven Services

Smart Data Collective

The problem of pricing visibility for SAAS companies offering artificial intelligence services. However, the main challenge that company IT, finance and procurement teams face when purchasing SaaS is the lack of pricing transparency. There are a lot of benefits and risks of using artificial intelligence.

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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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