Ama Aidoo-Sam
DATA-DRIVEN DECISION MAKING
The role of AI and ML in procurement decision-making Artificial intelligence ( AI ) and machine learning ( ML ) will play a major role in enabling better analysis of data – thus aiding decision making – thanks to their ability to analyse large amounts of data , come up with insights and trends , and provide recommendations .
AI and ML can also be used across the procurement lifecycle – from assisting with supplier selection , based on the information provided in Requests for Tender , and spend analysis , where the two can help identify opportunities for cost savings through to contract management , where they can help analyse the real value from contracts .
Aidoo-Sam says : “ This technology can also help with identifying risks . Across all these areas , getting data analysis will help inform decisions . The world of AI / ML is constantly evolving and the utilisation of both in procurement is swiftly progressing . There is room for improvement however , and it will be good to see how this evolution plays out .”
Improving the quality of data in procurement Accurate and reliable data starts at the point of data collection . “ Therefore , organisations should ensure that there are rules in place to govern that initial step in the process ,” says Aidoo-Sam . “ A good data governance policy clearly identifies the data owner , the data steward , the data custodian , and each of their responsibilities and points of interaction .
“ The systems used to collect data can also be set up to ensure there is verification at the point of data entry . The process for cleansing and maintaining the data is equally important . Having clear accountability around the collection , storage , and
Ama Aidoo-Sam
TITLE : DIRECTOR | PROCUREMENT OPERATIONS
COMPANY : RESMED LOCATION : SAN DIEGO , CALIFORNIA
A relationship builder and a leader with a record of outstanding results in developing high-performing teams , delivering savings , and meeting the strategic objectives of customers .
An experienced procurement leader whose industry experience covers financial services , consulting , FMCG and consumer electronics . Ama Aidoo-Sam has managed both strategic and operational procurement in the UK , ANZ , and Asia .
76 June 2023