“ THE ABILITY TO AUTOMATE DECISION MAKING IS A FAST-GROWING TREND THAT ’ S DRIVING POSITIVE OUTCOMES FOR SUPPLY CHAIN FUNCTIONS ”
JENNIFER CHAPLAIN ENGINEERING & CUSTOMER ENGAGEMENT PRINCIPAL , AERA TECHNOLOGY
Often , such teams have to act without full context for the decisions they make , on top of the fact that the number of decisions that must be made has grown beyond even the best team ’ s ability to keep up .
What ’ s more , procurement teams frequently rely on siloed technology systems and business processes that don ’ t provide real-time visibility .
In many cases , decisions are delayed by complexity amid the slow speed of human collaboration and alignment .
Information has to be gathered and analysed not just from data lakes , but spreadsheets , emails , or even faxes .
Traditional approaches to capturing knowledge and determining the best actions aren ’ t enough to stay competitive . True digital transformation of procurement requires technology that enables faster , more accurate decision making .
What tech innovations do you see shaping procurement ? Decision intelligence – the ability to digitise , augment , and automate decision making
– is a fast-growing trend . We ’ ve seen it drive positive outcomes for supply chain functions , and companies are also applying it to procurement , finance , and revenue management .
This is a new frontier for digital transformation , allowing procurement teams Use more to improve image decision making across a wide captions range as often
activities . For example , procurement as possible professionals often need to act quickly .
But how do you respond when a strategic supplier ’ s key performance metrics go down ? With manual processes and a lack of visibility , it could take days to identify the issue , followed by further days of analysis to identify options and to reach a decision . Through decision-intelligence technologies like AI and ML , these issues can be identified in real-time . Procurement teams can therefore quickly analyse the data , predict the outcome of changing vendors , and receive a recommended course of action .
When a decision is made , the technology then writes back to business systems to change purchase orders and update records .
80 August 2023