Risk assessment models : Advanced data analytics enable the creation of sophisticated risk assessment models . Organisations can use these models to evaluate the risks associated with suppliers , contracts or specific transactions more accurately . This allows for tailored security measures and reduces unnecessary friction in legitimate procurement activities .
Real-time monitoring : With high-quality data feeding into real-time monitoring systems , procurement managers can quickly identify and respond to potential security threats or anomalies in procurement processes . AI-powered monitoring systems can continuously track procurement activities and flag irregularities , such as sudden price spikes , unusual purchasing patterns or unauthorised vendor changes .
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