How AI is assisting Coca-Cola in increasing supply chain purchasing

Artificial intelligence (AI) and machine learning tools have become indispensable to fuel procurement and sourcing efforts at the Atlanta-based global beverage leader, according to Brett Fultz, director of global analysis, global procurement and supply chain at Coca-Cola. For any company that manufactures or sells goods, buying and sourcing are integral functions of supply chain management. Sourcing, an early stage of the buying process, is about identifying and assessing potential suppliers of goods or services, negotiating terms, and selecting vendors. Procurement, however, goes further, and is about getting supplies and payment from suppliers who compete for business by submitting bids and negotiating contracts. But challenges abound in a supply chain landscape full of constraints and risks - from issues related to the COVID-19 pandemic and the war in Ukraine to climate change.