FOREWORD eProcurement is an enhancer that breaks down silos , fosters information sharing and collaboration
“ The ability to automate decision making is a fast-growing trend that ’ s driving positive outcomes for supply chain functions ”
Amid supply disruption and uncertainty , strategic procurement is vital . AI and ML automation solutions are transforming the profession , freeing up time for contract management and vendor lifecycle while addressing ESG , risk and performance needs
Ongoing supply disruption and the prevailing climate of economic and geopolitical uncertainty means there has never been a greater need for procurement to be a strategic business function . This , in turn , is driving the adoption of AI and machine learning ( ML ) solutions in automating the less strategic aspects of procurement – which , traditionally , have been something of a time-sink for the profession .
Procurement leaders are expected to drive the execution and management of contracts in collaboration with internal stakeholders and suppliers . Their teams , meanwhile , are also expected to contribute to the vendor management lifecycle , including areas such as ESG , risk , and performance requirements .
Today , there ' s a raft of procurement automation solutions to do the heavy lifting in these and other areas .
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