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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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4 smart technologies modernizing sourcing strategy

IBM Big Data Hub

They consider factors—like supplier performance or sustainability —that support long-term partnerships, advance business needs and increase purchasing power. Now, sourcing and procurement professionals are reaping the rewards of such automation: streamlining workflows, boosting the bottom line and finding efficiencies.

Strategy 105
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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. Benefits of AI-Powered VMS The integration of AI into VMS offers several key benefits.

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A comparative assessment of digital transformation in Italy

CIO Business Intelligence

Digital is a powerful business lever,” says Alessandra Luksch, director of the Digital Transformation Academy Observatory at Politecnico di Milano, which has been mapping trends in ICT spending by Italian organizations since 2016. It’s universally accepted that to thrive, enterprises must embrace transformation through technology.

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How to build a successful procurement strategy

IBM Big Data Hub

The role of procurement extends beyond transactional activities. A procurement strategy allows an organization to navigate an increasingly complex global supply chain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. What is a procurement strategy?

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EU and US agree to chart common course on AI regulation

CIO Business Intelligence

The European Union and the US have agreed to increase co-operation in the development of technologies based on artificial intelligence (AI), placing a particular emphasis on safety and governance. The European Union is seeking to regulate the development of artificial intelligence in the region with a recently approved AI Act.

Risk 130
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IBM and AWS forge global alliance, streamlining access to AI and hybrid cloud solutions

CIO Business Intelligence

This strategic alliance allows businesses in these countries access to IBM’s software products, including data technologies and AI, directly through the AWS Marketplace, IBM said in a statement. Customers on public cloud procure different software from the cloud marketplace. It’s already common,” quipped Ranjan.