Artificial Intelligence (AI)

Insights on the Evolving Role of Supply Management

Posted: 05/27/2022 - 00:00

The global COVID-19 pandemic put supply chain management and procurement in a very bright and positive spotlight for keeping life moving as normal as possible during all the shutdowns, disruption and general uncertainty.

It also highlighted that business and supply chain disruption are ongoing facts of life – such as ongoing extreme weather events globally and a megaship blocking the Suez Canal for weeks, to name just two. And the impacts created a snowball effect on other industries:

Procurement Gets Competitive With AI Technology

Posted: 05/25/2022 - 09:00
Here's how forward-looking companies are exploring AI and automated technologies to go beyond merely surviving to position themselves to thrive for the long-term.

Global businesses have now spent nearly two years navigating the various challenges of the pandemic. Although some of the fallout was predictable, the dramatic impact we have witnessed on the global employment market was more unexpected. Companies that were already adjusting to new ways of working now find themselves in the middle of arguably the worst employment crisis in modern history—a phenomenon known as the Great Resignation.

The Future of the Supply Chain is Data Driven

Posted: 03/25/2022 - 09:00
Learn how big data and analytics can help organizations at every level of the supply chain to increase efficiency, productivity, resource management and spending.

What Does a Data Driven Supply Chain Look Like?

The key to improving any system is information. A data-driven supply chain is built around this concept, leveraging big data and analytics to improve processes at every level of the supply chain. A wide range of technologies contribute to this, from interconnected IoT sensors to warehouse robots and everything in between.

Taking The Mystery Out Of AI

Posted: 03/16/2022 - 00:00
Artificial intelligence is significantly impacting the world, yet there’s still a great amount of mystery and misconceptions about it.

The public’s imagination has been heavily shaped by science fiction, with the term AI evoking images of robots like WALL-E, C3PO from Star Wars and David from Stephen Spielberg’s movie A.I. Scientists and technologists refer to this kind of humanlike AI as “general artificial intelligence.” General AI attempts to mimic the kind of abstract thought and typical problem-solving skills seen in humans. 

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.

Rethinking Supplier Risk in the Era of Diversity and Inclusion

Posted: 08/16/2021 - 00:00
Rethinking Supplier Risk in the Era of Diversity and Inclusion

While everyone around the globe has become aware of the focus on diversity and inclusion, not everyone has embraced or welcomed it. Some are deliberate and vocal about expressing dislike of these necessities at work, school and in our communities. Others are quietly against it but raging inside, rallying against diversity and inclusion, both consciously and subconsciously.

Hone Your Human Work Skills

Posted: 06/18/2021 - 09:00
Hone Your Human Work Skills

Think about utility poles, Mohan Tatikonda is saying. He’s a professor of operations management at the Indiana University Kelley School of Business, and for over 30 years his research has focused on how firms can most effectively design, develop, introduce and improve products, services and organizational processes.

And though “think about utility poles” sounds like a strange request, he’s getting ready to talk about the future of work and how people and machines can benefit each other.

What is Tail Spend?

Posted: 06/10/2021 - 09:00
What is Tail Spend?

Just like in spend data classification, the definition of tail spend is subjective. Some organisations classify tail spend at the bottom 20% of spend, while others might set a financial level such as £100,000 or £1 million.

According to CIPS, tail spend “can often be referred to as rogue spend or maverick spend, is usually small value purchases that are conducted by the organisations outside of a contract and often outside of the awareness of the procurement team.”

The Big Supply Chain Talent Shortage

Posted: 06/03/2021 - 09:00
Procurement and supply chain leaders worldwide are struggling to attract and retain talent.

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.

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