article thumbnail

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.

article thumbnail

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?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

From Procurement to Distribution: Optimizing the Supply Chain with EDI

Astera

How EDI Can Optimize the Supply Chain Procurement Implementing EDI in the supply chain enables the automation of the entire procurement process. Overall, these benefits help to improve efficiency, reduce costs, and enhance the accuracy of the procurement process.

article thumbnail

Your complete guide to procurement management

Monday

We’ll give you a complete overview of procurement management and show you how you can build the procurement management system that’s right for you. What is procurement management? Procurement management is a strategic approach to acquiring supplies for your business. Why is procurement management important?

article thumbnail

Agile Procurement in the Public Sector w/ Nathan Hummel

Leading Agile

In many organizations, the group responsible for procurement, and the processes they follow, were established under a traditional (waterfall) approach. Personal blog: [link]. Listen to the SoundNotes Podcast on the go! Find and subscribe to SoundNotes on: Apple Podcasts. Google Play. Soundcloud. LinkedIn: [link]. Contacting Dave.

article thumbnail

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.

Logistics 246
article thumbnail

2023 SAP Innovation Award Winners: Swiss Federal Railways, Mastering a Data-Driven Culture with SAP BTP

Timo Elliott

As a result, they’ve been able to maintain long-term data quality, benefiting departments such as procurement, sales, and finance by improving process efficiency and significantly reducing data quality-related issues. This shift has enabled them to concentrate on more intricate aspects of data quality and governance.