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Technology Trends in Procurement

Una

Take B2B services purchasing as an example. Contract monitoring. AI is also getting better at reading unstructured documents including supplier contracts, with one study revealing that AI read a contract in 26 seconds while human lawyers took 92 minutes. IoT proliferation. Self-service.

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Leveraging Lean Procurement

Una

Procurement process automation can involve anything from automated supplier discovery, payment processing, spend analytics , and contract approval. Utilizing a GPO as an extension of your procurement team can help streamline the purchasing process, save costs, and save time by eliminating indirect spend contract negotiations.

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Talent Spotlight: Andrew F. Smith

Procurement Heads

The pandemic had a huge impact on many industries; in our case, our revenues dropped by around 40% almost overnight, plus our supply chain dramatically contracted as borders were closed and inventories dried up. Also key was demand planning, matching our purchasing plans with the ever-changing demand situation.

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Talent Spotlight: Andrew F. Smith

Procurement Heads

The pandemic had a huge impact on many industries; in our case, our revenues dropped by around 40% almost overnight, plus our supply chain dramatically contracted as borders were closed and inventories dried up. Also key was demand planning, matching our purchasing plans with the ever-changing demand situation.

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Streamlining supply chain management: Strategies for the future

IBM Supply Chain Blog

It can take many forms, from automated warehouse systems that pick and pack orders, to blockchain-based smart contracts to software that automates purchasing and invoicing processes. Key strategies for effective supply chain management There are a number of ways that companies can better optimize and manage their supply chains.

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Supply Chain as a Service (SCaaS): A Golden Opportunity for the Supply Chain Industry

SCMDOJO

SCaaS offers a solution by enabling hospitals to engage in strategic procurement, ensuring standardized operations throughout the contract duration. These include bulk-break purchasing, facilitating connections with reliable clients, and renegotiating with existing suppliers to reduce procurement costs. Why outsource Demand Planning?

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Fueling Success: Career in Supply Chain Guide

SCMDOJO

Whether it’s purchasing, procurement, transport, technology, facilities, or other specialized areas, understanding your passion will influence the subsequent steps in this rewarding career path. Click here to access the course: How to Start a Career in Supply Chain Management?