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The future of AI-enhanced third-party management

Spend Matters

The technology opens up a wealth of capabilities not previously possible for the procurement practitioner in terms of data availability, end-to-end visibility, cost, time and risk reduction, and ultimately the overall health of the third-party network. So you had one data source, one data point.

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The 25 Hottest US Procurement Startups

Procurement Software

Multi-functional technology enables you to train anywhere at any time, while ever-learning programming allows you to experiment and practice to achieve different outcomes. LavenirAI allows you to train anywhere, any time, so you can stay at the top of your game. It promises to assist with improving buyer and supplier collaboration.

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The AI Advantage: Unlocking New Value for Procurement Teams

World of Procurement blog

This supports strategic sourcing efforts. Predicting future spend : By analyzing historical spend data, AI algorithms can create spending forecasts, predict seasonal demand changes, and model the impact of external factors on budgets. This maximizes value from sourcing partnerships. This enables more accurate planning.

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Procurement vs. Acquisition: What’s the Real Difference?

Pipefy

Procurement is the process businesses use to source and obtain goods/services from external suppliers to achieve strategic objectives and fulfill business needs or purchase requests. In this stage of the process, multiple departments collaborate to address capability requirements, design, technology, and, most importantly, time and cost.

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7 Best Procurement Tools to Streamline Your Business Processes

Pipefy

Procurement solutions encompass a wide range of specific functions due to the many aspects of the procurement process, including purchase requests centralization, procure-to-pay, sourcing, budget management, supplier management, and forecasting. Sourcing tools can help organizations choose vendors that deliver greater long-term value.

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5 Inventory Management Mistakes to Avoid in 2024

Finale Inventory

Scanning a label takes a fraction of the time needed to jot down even the briefest of details – and items are immediately visible in your online system with full product details available. Cycle counting is the practice of counting a rotating subset of your inventory on a regular, frequent basis. Adopt continuous cycle counts.

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11 Best Procure-to-Pay Software for the Mid Market

Procurement Software

It may feel like P2P suites are the sole preserve of large enterprises with huge budgets. Above $1 billion businesses are typically a target of established, enterprise source-to-pay and source-to-contract suites. It requires a fast return on investment (ROI) and the solution must quickly prove its value to the business.