Procurement Magazine March 2024 | Page 31

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Supplier risk management

Revolutionising supplier risk management , AI provides real-time data analysis , predictive analytics , and improved visibility – all of which help procurement teams manage risk and ensure smooth supply chain and procurement operations . As with other use cases , AI helps with proactive decision making , identifies risk , and helps monitor potential disruptions .
As a result of this , organisations can reroute shipments , avoid delays , identify patterns , predict future risks , source alternative suppliers , and improve efficiency and decision making .
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