Technology : The gateway to lean procurement
PROCUREMENT STRATEGY
Technology : The gateway to lean procurement
DATA ANALYTICS
Data analytics involves extracting meaningful insights from large datasets , guiding informed decision-making , optimising processes and identifying trends for enhanced operational efficiency and strategic planning .
ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING
AI and ML employ advanced algorithms to analyse historical data , predict demand patterns , optimise inventory management and enhance decision-making , bringing automation and efficiency to procurement processes .
LOW-CODE / NO-CODE PLATFORMS
Low-code / No-code platforms empower users to create applications without traditional coding , enabling the development of customised procurement solutions , fostering agility and reducing reliance on IT departments for system modifications .
CLOUD-BASED PROCUREMENT SOLUTIONS
Cloud-based procurement solutions offer flexibility , scalability and real-time collaboration . These platforms enhance procurement agility , accessibility and efficiency by providing a centralised and accessible digital environment for procurement activities .
COLLABORATIVE PLATFORMS
Collaborative platforms facilitate effective communication and coordination among procurement teams and stakeholders . These tools promote teamwork , information sharing and visibility into project statuses , fostering a collaborative procurement environment .
PREDICTIVE ANALYTICS FOR RISK MANAGEMENT
Predictive analytics leverage historical and real-time data to identify potential risks in the supply chain . By foreseeing challenges , organisations can implement proactive risk mitigation strategies and ensure supply chain resilience and continuity .
48 Dectember 2023