sourcing cycles and automate mundane tasks , freeing-up time for members of the procurement team to take on a more strategic role .
“ In terms of sustainability , AI again will have a big part to play . As Environmental and Social Governance ( ESG ) become increasingly important , procurement teams will need to be more vigilant about suppliers , and modify the selection criteria to incorporate these concerns . Using AI can assist with this process ; enabling companies to prioritise suppliers with strong ESG credentials right from the start ; saving time and effort , and ensuring a more ethical portfolio of vendors .”
When asked : “ What ’ s one insight that you would like to share with your audience ?”, Doyle laconically replies : “ The end of stability .” He continues : " We all know that we are living in a world where economic shocks will continue , but are we building our AI roadmap in this context or are we still focusing on rationalisation and optimisation ? The sudden , ready availability of high-quality data , means more accurate , strategic decisions can be made internally – and in response to changing business needs . Companies are increasingly going to be demanding up-to-date and even realtime information that they can generate themselves , and it ’ s likely to become more and more noticeable if procurement teams are basing decisions on outdated , historical data and trust in existing trends . We need to
88 February 2023