Machine Learning

Is It Time to Add AI to Your Commodity Insights?

Posted: 11/30/2021 - 09:00
Is It Time to Add AI to Your Commodity Insights?

Over the last few years, we’ve seen artificial intelligence (AI) being used for a host of procurement applications, from spend analysis to supplier risk monitoring. Now, the same technology is increasingly being applied to commodity forecasting.

In the right situation, this can provide invaluable insights. AI makes it possible to look at larger, more complicated data sets over a longer period of time, helping to improve the accuracy of predictions and supercharge decision-making, near real-time.

Five Technologies to Future Proof Supply Chain Inspections

Posted: 11/16/2021 - 09:00
Five Technologies to Future Proof Supply Chain Inspections

The COVID-19 pandemic has jolted digital transformation into overdrive, with technology adoption enabling businesses across industries to accommodate remote work and operations. But now more than 18 months into the crisis, businesses that source globally remain ensnared by rampant order delays, factory lockdowns, persistent transit challenges, rising costs and debilitating mass shortages.

Advantages of Artificial Intelligence in Enterprise Contract Review and Analysis

Posted: 07/26/2021 - 09:00
Technological advances in artificial intelligence (AI) and machine learning (ML) can help companies overcome the many challenges in dealing with large collections of legal documents and contracts.

Contracting, common for every company, is something that few companies do efficiently or effectively. The process of reviewing contracts and legal documents is manual, tedious and error-prone, exposing organizations to legal risks if not well managed. The financial consequences can also be severe. KPMG estimates that inefficient contracting causes firms to lose up to 40 percent of value on a given deal, depending on circumstances. 

The Big Supply Chain Talent Shortage

Posted: 06/03/2021 - 09:00
The Big Supply Chain Talent Shortage

Manufacturing growth has skyrocketed over the last few decades, but the industry continues to lag in growing its most important asset: its people. A spike in retirements, paired with a drop in analytical leaders entering the field, is creating demand for procurement and supply chain talent that far outpaces supply.

Semantic Folding Solves the Problem of Too Many Emails

Posted: 05/20/2021 - 23:01
Semantic Folding is Solving the Problem of Too Many Emails

Email management is a bigger challenge every year. In 2019, business email accounted for more than 128.8 billion emails sent and received per day, according to the Radicati Group. Adding to the challenge, many emails never make it to the right business account because they are sent to bulk accounts like info@company.com or sales@company.com.

Are You Getting the Most Out of Your Nearshore Digital Transformation Partner?

Posted: 02/04/2021 - 04:06
Nearshore Digital Transformation

Given the supply chain disruption, business shut-downs and economic uncertainty caused by COVID-19, it’s never been clearer — doing business closer to your own shores is coming back into vogue.

With recent restrictions on H-1B workers and a tech talent shortage, selecting a nearshorer is fast becoming the first step on a company’s digital transformation journey.

Successful Digital Transformation Requires an Inspection of all Business Processes

Posted: 11/16/2020 - 23:30
Procurement organizations are uniquely positioned to drive their companies' innovation agenda because no other function can “serve as the window to the outside world.

At the time of writing this piece, I am just one of five million people emerging from the world’s longest coronavirus-related lockdown, in Melbourne, Australia. For nearly two months, I was only allowed to leave the house once a day for essential items and required to stay within three miles of my home. From takeaway meals to IT support, to doctor’s appointments, most of the goods and services I've needed have been ordered virtually. Since COVID-19 hit, I’m amazed at how quickly the world went virtual.

Bring on the bots: Artificial intelligence to the rescue in the fight against COVID-19

Posted: 06/05/2020 - 05:24
artificial intelligence, data science and machine learning

Since the onset of COVID-19, artificial intelligence, data science and machine learning have gone from time-saving to life-saving technologies. The fact is, they have rapidly emerged as powerful weapons in the fight against the pandemic. 

From accelerating testing capabilities to enforcing social distancing measures, these bots – formerly unsung heroes of AI – have suddenly taken on a significant role in altering the way we face pandemics. 

Here are some of the ways bots continue to play an essential role in the fight against COVID-19:

How Artificial Intelligence Can Be Used in Your Supply Chain

Posted: 02/12/2020 - 04:33
Using Artificial Intelligence in Supply Chain

Artificial Intelligence (AI) has now invaded how industries operate in more ways than we can count and know. It has developed into a welcome (and now necessary) addition to boost efficiency, sharpen forecasts and speed up certain processes. Any company that sells a product has a supply chain, which is the network of all the stakeholders involved in the creation and distribution of a certain product, and any supply chain can benefit from AI.

Machine Learning 101 – How Machine Learning is Impacting Businesses

Posted: 08/02/2019 - 08:47
How machine learning can impact, excel and innovate your business.
Artificial intelligence (AI) and Robotic Process Automation (RPA) are popular buzzwords today, yet the practical applications for and approaches to these concepts are often less understood and (in many cases) may still be on the horizon.  However, there is a technology-driven differentiator within this overarching category that has been in use across a number of industries for some time.  Machine learning is the means by which a program analyzes a number of data sources and, by using algorithms, “learns” from that analysis to predict likely scenarios or future end-state resul

10 Ways to Find Savings Through Analytics

Posted: 07/09/2019 - 06:48
Businesses need faster and more comprehensive spend management solutions, without the need for additional subject matter experts. To this end, our clients have benefited from improvements in insight and service delivery using 4C’s analytics platform 4Spend. Here are ten ways in which new savings can be found using analytics. 
 
1.) Categorisation and Benchmarking 
 

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