Too often I hear procurement professionals talking about struggling to implement a firm category management process. Whether it’s a strategy problem, an alignment issue, or implementation struggles, it seems that category management is a tough thing to get right. So, I wanted to give my golden rules for category management…

Artificial intelligence remains at the forefront of many procurement conversations. The largest value of AI comes from enhancing current processes and optimizing internal operations. AI also drives better decision-making by supplementing human knowledge, aggregating data, and making intelligent predictions. …

Artificial intelligence (AI) solutions seem to be popping up everywhere — with many procurement pundits reporting that more than half of the world’s supply chains, procurement organizations, and financial professionals are already preparing to make major investments in AI over the next several years. AI is already being used in…

With hot new buzzwords coming and going year after year, it’s hard to blame any procurement professionals who are becoming disillusioned. One of the latest, “ Autonomous Procurement,” has been the focus of writings by industry experts both enthusiastic and less optimistic. But many purchasing team members, including leadership, still…

Machine Learning (ML) and Artificial Intelligence (AI)-Assisted Data Preparation. As is well known, procurement generates massive volumes of data. Traditionally, if you wanted to get at this to perform advanced analytics you would first need someone (typically a data scientist or programmer) to write a special extract-transform-load [ETL] routine to get the data you need from various sources, put…

Digital Twin refers to a digital representation showing in real-time the operation and life cycle of physical assets, processes, people, places, systems, and devices. It can be used for detecting the root cause of issues and improve productivity. Digital Twin can track material consumption, power output, and heat output. It…

The overwhelming abundance of dirty data and how it can cost you The cost implications of the non-stop pile-up of dirty data are far-reaching and, at times, unpredictable. Based on recent estimates, dirty data has cost U.S companies somewhere between $2.5 to $3 trillion every year. …

What is the right way to implement AI? The real Artificial Intelligence (AI) transformation starts by asking the right questions and building the habit of transformation amongst the staff because one who isn’t eager to learn or move forward will stay behind. At the moment when you think to leverage AI in your company, you should at the…

With the constant talk of artificial intelligence, predictive analytics, and machine learning, cognitive intelligence is expected to revolutionize procurement. As Supply Management states, “Cognitive procurement will drive the Procurement profession forward” and early adopters will certainly have a competitive advantage. Industry experts appear concerned primarily with how these new technologies…