Artificial intelligence and Machine Learning Change the Game for Procurement

#artificialintelligence

Artificial intelligence, machine learning and deep learning are everywhere, and they are ushering in momentous change, altering the way we shop for and consume goods and services in our personal lives. They are also having a tremendous impact on businesses -- particularly in the way that buying and selling get done. So what exactly are these technologies? Among the most promising and fast-developing applications of AI is machine learning. And just as its name suggests, it is where computers learn to perform tasks without having been programmed specifically to do them.


Artificial intelligence and Machine Learning Change the Game for Procurement

#artificialintelligence

Artificial intelligence, machine learning and deep learning are everywhere, and they are ushering in momentous change, altering the way we shop for and consume goods and services in our personal lives. They are also having a tremendous impact on businesses – particularly in the way that buying and selling get done. So what exactly are these technologies? Among the most promising and fast-developing applications of AI is machine learning. And just as its name suggests, it is where computers learn to perform tasks without having been programmed specifically to do them.


Not Your Grandfather's Procurement (Part 1)

#artificialintelligence

In Part 1 of a 3-part series, Marcell Vollmer, chief digital officer at SAP Ariba, shares his take on where digital procurement is headed. What is the role of e-procurement in B2B e-commerce and what is the role of the chief procurement officer? Vollmer: Procurement has earned an unfair reputation of being a complicated process, but let's break it down simply here. Procurement's role in B2B e-commerce is to streamline the purchasing process and ensure that businesses get the right goods and services that meet all of their specifications, from a corporate-approved vendor, for the right price. Call this the golden triangle of procurement.


SAPVoice: Five Ways To Build Ethical, Sustainable Supply Chains

Forbes - Tech

Uncovering the risk hidden deep inside any supply chain is something every company's procurement department can and should do, every day of the year. Experts at a roundtable during the recent SAP Ariba Live event shared three ways buyers can build their company's ethical, sustainable supply chain. Procurement can have a massive impact on ethical supply chains provided they use the right data to act responsibly. "Consumers vote every day with the products they purchase, and so do corporations – except people in procurement are buying goods and services that are worth billions. It's a unique impact," said Emily Rakowski, Chief Marketing Officer at EcoVadis.


Accenture calls for action on the digital procurement revolution

#artificialintelligence

Accenture is a company passionate about digital procurement. In a recent report, the global management consultancy made no bones about the disappointment it feels at what it perceives as an almost industry-wide failure to embrace the technologies available for digitising procurement. It states that "procurement organisation has been largely left behind in the digital revolution. The report looks at how bots can be used to automate and streamline manual or routine procurement tasks, how making use of available expertise such as speaking to buying agents and advisors will help people make the best purchasing decisions and deliver optimal value to the business. Accenture specialises in helping procurement companies to digitise their business operations, and the report shows confidence that the familiar frustrations surrounding procurement today will give way to a simple and intuitive buying experience for users to enthusiastically embrace.