“ For example , generative AI might be used to automate category management process steps ,” explains Thurman . “ Integration with generative AI tools makes it possible to provide real-time insights into a range of category management topics . These include market dynamics summaries , risk perception for the underlying commodities , insights on the impact of changes in laws and regulations , and cost structure updates , to name a few .
“ AI might also be used to predict opportunities for savings , or to develop future demand forecasts .”
Overall , Thurman feels AI has the potential to change the way category management practitioners work . “ I can see it enabling them to focus their expertise on strategy development , execution , and monitoring ,” she says , “ rather than the mundane and manual tasks that can dominate their time .”
She also feels data analysis is another key impact area , “ because AI tools are able to analyse such vast amounts of information .”
Data analysis and research helps category managers understand the broader market for what they are buying .
“ Access to robust market data for analysis also enables businesses to visualise their relative position in the market ,” says Thurman . “ This will drive strategy
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