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AI in procurement: How different industries are harnessing its power

Spend Matters

With raw materials, equipment and maintenance making up the bulk of their expenditures, procurement professionals in manufacturing are turning to AI to gain deeper insights and stronger control over their supplier networks. Supply network modeling, now integrating large language models (LLMs), allows for precise tracking and material tracing.

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Supply Chain Visibility – An Overcomplicated Challenge!

Supply Chain Game Changer

Supply Chain Visibility Has Never Been More Important! Supply Chain visibility article and permission to publish here provided by Adam Miglio. Even the most robust ERP systems seem to lack the visibility that organizations are desperate to acquire, and in real-time. Subscribe Here! Email Address. Due date has slipped.

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Financial Supply Chain —  The Ultimate Guide of 2023

Procurement Tactics

Financial supply chain or supply chain finance describes a set of technology-based solutions that helps lower financing costs and enhance the business experience for sellers and buyers connected in sales transactions. . While suppliers can gain quick access to money the buyer owes them, the latter can get more time to pay their balances.

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Elevating Supply Chain Visibility through Effective Marketing

SCMDOJO

Discover Ways to Boost Supply Chain Visibility through Digital Marketing Supply chain visibility is essential for providing a superior customer experience and sustaining customer loyalty over time. Customers face significant frustrations that erode brand trust and sales without supply chain visibility.

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The True Power of a Payments Partnership

ivalua

Our unrivaled licensing and banking networks are setting new standards of security, transparency, and speed for B2B cross-border payments,” said Sinead Fitzmaurice, CEO of TransferMate Global Payments – a subsidiary of the Clune Tech Group. All this is transparent across the payment journey, to the buyer and supplier.

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Navigating trade turbulence: What tariffs are really exposing in Procurement

Spend Matters

This kind of end-to-end tariff strategy demands visibility, coordination and scenario planning, which are capabilities that traditional procurement tools often lack. Supply chain visibility: The linchpin for tariff management If there is one lesson from recent disruptions, it is this: you cannot mitigate what you cannot see.

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Expert Reveals 7 Supply Chain Trends to Watch

Supply Chain Opz

The biggest implication of this new imposition on procurement process is that now procurement managers have to deliver suppliers that are cost conscious and timely in their operations but at the same time can adapt to the changing demands of end customers. Reducing the dependence on a sole supplier is crucial in managing risk.