PROCUREMENT STRATEGY
well-defined scope : “ By taking a ‘ jobs to be done ’ approach and seeing where in the workflow Gen AI has a material impact , customers maximise value while reducing risk .”
Automating routine tasks with Gen AI Erin believes too much of the procurement function ’ s time is spent guiding users through complex processes , evaluating long and intricate internal and external documents and sifting through data to find insights – all to make sure each case they work on has maximum impact .
“ As a result of constrained resources and cumbersome tools , much spend goes unmanaged or is directed to ‘ preferred ’ suppliers with limited competition and oversight ,” she adds .
“ Gen AI won ’ t automate the strategic reasoning and decision-making that makes us human . But it will help us gather everything together within mere seconds , enabling us to craft the right strategy using data .”
Enhancing decision support in procurement One of the main reasons businesses are adopting Gen AI is for its ability to summarise unstructured data , guiding stakeholders or procurement teams down the best possible path .
Erin explains : “ It can summarise activities in real-time while taking all historical context and past learnings
156 October 2024