AI Archives - Smart Procurement

11 Procurement Trends For 2024 According to Experts

Leave a Comment / AI, e-Procurement, Leadership and People, Legal / Contract, Procurement Strategy, Recent, Risk Management, Sourcing Strategy, SRM Supplier Relationship Management, Strategic Sourcing, Supplier Management, Technology / By Bernie van Niekerk

In this 3-part series, Marijn Overvest, founder of Netherlands-based company, Procurement Tactics, believes that in 2024, procurement will elevate business. In this article and over the next two issues of SmartProcurement News, he will take us through predictions and advice collected from procurement experts globally, to help professionals in the industry navigate the immediate future. …

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Why procurement will be the ‘key enabler’ for AI adoption

Leave a Comment / AI, e-Procurement, Featured, Leadership and People, Procurement Leaders, Procurement Strategy, Technology / By Bernie van Niekerk

It is “imperative” that procurement is at the heart of AI adoption, the World Economic Forum (WEF) has warned in a report published earlier this year. Unpacking the report here, is reporter with Supply Management magazine at Haymarket Business Media, Will Phillips, MA. Procurement is a “key enabler” in the adoption of artificial intelligence, and …

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AI Use Cases to Supercharge Procurement

Leave a Comment / AI, e-Procurement, Featured, Leadership and People, Professional Development, Technology / By Bernie van Niekerk

Artificial Intelligence (AI) in procurement is growing in popularity due to the advancements in technology, writes Karen Bonifacio, SEO Specialist/ Content Writer at Procurement Tactics, in Utrecht, Netherlands. In this article, she answers key questions: what is AI and how does it change the procurement industry? Artificial intelligence is integrated into every device that is …

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How Chat GPT Transforms Procurement … in its own words!

Leave a Comment / AI, Big Data, Category Management, Don't miss, Information technology, Leadership and People, Procurement Leaders, SRM Supplier Relationship Management, Supplier Management, Technology / By Bernie van Niekerk

SmartProcurement asked Chat GPT (a Large Language Model (LLM) Artificial Intelligence that’s currently taking the world by storm) to tell us more about itself and what it can do for procurement professionals. The article that follows was written by Chat GPT in response to this question. Hey there! I’m Chat GPT, an advanced AI …

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AI at the Centre of the Great Supply Chain Disruption

Leave a Comment / AI, Don't miss / By Bernie van Niekerk

Technology has always had a significant impact on supply chains. In 2023, it is going to be more important than ever as the “Great Supply Chain Disruption” continues to challenge organisations around the world, according to SAPICS (The Professional Body for Supply Chain Management in Southern Africa). War, raw materials shortages, rising energy costs and …

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What P2P Will Look Like in the Future

Leave a Comment / AI, Compliance / Legal, Global Sourcing, Leadership and People, Legal / Contract, Procurement Training, Sourcing Strategy, Supplier Management, Supply Chain Management SCM, Technology / By Bernie van Niekerk

As businesses move further into the twenty-first century, the traditional procure-to-pay process will become increasingly outdated. In the coming decades, warns Dooka South Africa, companies will need to completely re-envision their procure-to-pay (P2P) process if they want to remain competitive. This article explores what the future of P2P will look like in 20 years, examining …

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Artificial intelligence in procurement – are we ready?

Leave a Comment / AI, Technology / By Bernie van Niekerk

Can Artificial Intelligence be an unexpected ally for procurement and supply chain in Africa? Prof Johan Steyn, an Artificial Intelligence (AI) enthusiast aimed to answer that question for us at the recent SPW Indaba 2022. Digitisation and AI applications have been developed in the USA and Asia and are not always relevant to African markets, …

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Procurement is buying blind

Leave a Comment / Big Data, Category Management, Technology / By Bernie van Niekerk

If any department needs 20/20 vision, it’s procurement. But most of us are buying blind, without the information we need at our fingertips. Top executive at Sievo, Finland-based global leaders in procurement analytics, Sammeli Sammalkorpi, says A1 technology is the answer.

AI and Procurement: Edging the Final Frontier?

Leave a Comment / Technology / By Bernie van Niekerk

we, as human procurement specialists, are not about to be replaced by machines. Because, he says, technology cannot surpass the brilliance of the human mind.

Glocalisation is the Future and Technology the Answer

Leave a Comment / Sourcing Strategy / By Bernie van Niekerk

A fascinating insight is provided here by the German Prospitalia Group’s brand new CEO, Dr Marcell Vollmer, into the meaning of GLOCALISATION and the technologies that are crucial to ensuring a successful transition to this trend in the supply chains arena.

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