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LightSource on FloorTalk with Judy Shaw of New York Stock Exchange( NYSE)
engine with Excel’ s flexibility but ripe with automation. We’ re really the first non-point solution focused on the full spectrum of direct and strategic indirect.
We break down the world into category content – category-specific metadata, bid sheets, suppliers, and analysis. This creates a flexible system segmented into category-specific slices so direct materials teams finally have a tool that helps them do their work versus another version of Excel.
Q. WHAT DO YOU SEE AS THE NEXT BIG OPPORTUNITIES FOR AI AND AUTOMATION IN PROCUREMENT AND HOW IS LIGHTSOURCE PREPARING TO CAPITALISE ON THESE?
» There have been two thoughts about AI’ s future in procurement: replace people, or enable people to do more. At LightSource, we focus on augmenting people. Procurement manages such large amounts of money that the salaries are small relative to the value created or lost through performance. The answer isn’ t to replace procurement, but augment and help them work faster and better.
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