ChatGPT: What Procurement Leaders Need To Know and Do Right Now
How can procurement teams use ChatGPT to their advantage? This bulletin looks at some practical use cases to test the tool and the value generative AI can deliver in the future.
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ChatGPT for Procurement: How It Helps (And How It Doesn’t)
April 24, 2023 | Procurement Software
Let’s face it. No one can accurately predict how generative AI tools such as ChatGPT will play out. At the outset, it may seem, and correctly so, that the rewards of adopting generative AI outweigh the risks, but only with strong guardrails in place.
As for harnessing the power of ChatGPT in the procurement process, there is a definite promise of achieving enhanced efficiency and reduced costs.
Prescriptive Analytics in the Supply Chain: Go Beyond Forecasting
April 06, 2023 | Supply Chain Software
The role of advanced analytics is becoming essential across supply chains as they become global, more complex and extensively data driven. Advanced analytics analyzes data in real-time, predicts future scenarios and prescribes the best course of action, reducing the need for guesswork.
Leading businesses leverage the entire spectrum of advanced analytics to optimize their supply chain and procurement processes, navigate volatility and drive savings. Here is a quick overview of the four types of analytics:
AI and Big Data Drive Oil and Gas Industry Recovery
March 02, 2023 | Oil and Gas
The oil and gas sector is facing issues such as lack of accessible hydrocarbon deposits, expensive exploration and risky production. Sustainability considerations are also driving demand away from dirty fossil fuel sources and toward cleaner ones.
AI is fueling oil & gas industry optimization
AI can help transform the oil and gas industry by improving quality assurance and in assisting workers, reducing pipeline corrosion, enabling smart procurement, shipping transparency, optimal replenishment digital category management, and discovering new perspectives.
Supply Chain 4.0: The New Normal for Supply Chains
December 27, 2022 | Supply Chain Software
The digital world has brought forth a new era of technology and innovation that is transforming the way businesses operate. Supply Chain 4.0 is the latest wave of disruption in the supply chain industry and it’s ushering in a new era of efficiency and productivity.
This article will explore the concept of Supply Chain 4.0, its benefits, use cases, and examples. We will also discuss the challenges related to Supply Chain 4.0 and the keys to success.
Know What’s Coming: Leveraging Predictive Analytics in Procurement
December 22, 2022 | Procurement Software
How can businesses adapt quickly to a new normal?
The simple answer: By acting proactively and countering challenges before they arise.
And they must leverage predictive analytics to succeed in these efforts.
Predictive analytics is a powerful tool that can be used to improve the efficiency and effectiveness of procurement processes.
How Big Data Enhances Supply Chain Visibility
December 07, 2022 | Supply Chain
Supply chain data can be analyzed and processed by AI from both structured and unstructured data to provide real-time insights across all stages of a supply chain. This article will discuss that with some examples. Let's begin with the definition.
Impact of Increasing Adoption of Artificial Intelligence (AI) in Logistics
October 14, 2022 | Logistics
Discover how AI is transforming the logistics industry by enabling it to automate and streamline processes. Unlock the potential of AI in logistics today!
Essential Supply Chain Control Tower Capabilities
October 07, 2022 | Supply Chain Software
What is a Supply Chain Control Tower?
Real-time supply chain visibility is made possible by a digital supply chain control tower. It is a centralized hub with the organizational tools, technology, and processes necessary to collect data from every supply chain step. This information guarantees complete transparency and aids a company in making decisions that align with its strategic goals.
Why Sustainable Procurement Needs Ethical AI
November 27, 2021 | Procurement Software
For many companies across the world, the pandemic and growing business uncertainties have acted as a catalyst for rapid digital transformation of procurement and supply chain.
As companies look to deploy AI-powered technologies, their objectives are clear: automate time-consuming manual processes, use real-time data and insights and, perhaps most importantly, mitigate risk.
