PROCUREMENT STRATEGY
IMPLEMENTING GEN AI IN PROCUREMENT WITH FAIRMARKIT
Fairmarkit has implemented Gen AI across several use cases . The first is in the procurement intake module , which helps business users navigate the purchasing process , followed by defining requirements and the scope of the required work . During the sourcing process , users can leverage Gen AI to help write their RFPs and evaluate supplier responses . Enterprises are also using generative AI to classify categories and detect data errors in automated events .
Fairmarkit is a global autonomous sourcing platform that proved the right choice for Boeing .
Tiffany Andrews , from Boeing ’ s Indirect Procurement Center of Excellence , says : “ It pulls all of our trends from our old work system and our current system and [ performs ] an evaluation of all of our data , of our spending trends ... it ’ s a great defence when having that strategic conversation on what you ’ re buying with your leadership because it grabs all of that data for you .”
Nicholas Wright , Head of the Procurement Digital Garage at BP , adds : “ Fairmarkit has allowed us to do the same amount of work but with fewer people . What we ’ ve been able to do is repurpose those people onto more highvalue tasks as opposed to transactional day-to-day activities .”
158 October 2024