David Wightman’s Post

What happens if you as a professional uses AI today, as a helper, when buying a professional service? Well first off all AI will help you to define your needs and develop a requirements specification. Then AI will help to match your needs/requirements specification with the perfect supplier. How likely is it that this match, the perfect supplier, will be the most expensive, high end brand from a local, regional or even national provider? Given the fact that AI knows what everyone, and i mean everyone with a digital footprint, can provide/offer? I belive the AI revolution will hit the high end market like a sledge hammer within the next twelve months. As private companies and public sector implements an already available technology to cut costs on a massive scale. Here is my three minute take on the future of the branding/sales matrix #aiprocurment #digitaltransformation #highenddisruption #salesinnovation #aiforbusiness #suppliermatching #costreduction #futureofbranding #techinnovation #strategicsourcing

AI is redefining supplier selection, making procurement faster, smarter, and more efficient: 1️⃣ Speedy supplier discovery: AI reduces the typical supplier search from months to mere hours by scanning and updating global supplier data in real time, perfect for faster, data-driven decisions. 2️⃣ Risk prediction: AI spots potential supplier risks early by analyzing real-time patterns, from financial instability to ethical concerns, giving companies time to adapt. 3️⃣ Automated communication: AI chatbots can handle thousands of supplier negotiations simultaneously, making it easy to manage tail-end spend and secure better deals. 4️⃣ Precision demand planning: AI refines demand forecasts, balancing supply needs and minimizing costly stock issues, helping companies from IKEA to Johnson & Johnson stay agile. 5️⃣ Efficient contract analysis: AI-powered tools cut contract review time by up to 60%, highlighting key terms and risks, so teams can focus on strategic negotiation and avoid hidden pitfalls. Get into more detail on our blog. ⬇️

The ROI Debate: AI in Procurement Is AI in Procurement Truly Delivering the ROI We Expect? We hear it all the time—AI will revolutionise procurement and deliver massive savings. But here’s the real question: How many procurement leaders can honestly say they’ve seen the ROI on AI investments? Sure, automation is reducing manual work, but is that translating to better decision-making? Is AI helping to drive innovation, improve supplier relationships, or deliver strategic business value? Or are we just automating inefficiencies and creating new problems in the process? Let’s get real about ROI. - How do we measure the value AI delivers beyond cost savings? - Are we thinking long-term, or are we just focused on short-term wins? - What happens when AI doesn’t live up to the hype? I’m calling on industry leaders to share their experiences in measuring AI’s impact on procurement. Comment below. #AI #Procurement #ROI #DigitalTransformation #TechInProcurement #ProcureTech #AIinProcurement #BusinessGrowth #Innovation

🤖 Unlocking the Power of AI in Procurement: Efficiency Meets Innovation! 🌐💼 AI is rapidly transforming the procurement landscape, offering unprecedented efficiency and insight. By automating data-heavy tasks, AI enables procurement teams to focus on strategic sourcing and supplier innovation rather than time-consuming manual work. It provides enhanced predictive analytics, allowing businesses to anticipate market trends and make proactive decisions. However, successful AI integration requires clear strategy, proper tools, and team readiness for digital shifts. With these in place, organizations can leverage AI to boost decision-making, reduce risks, and optimize supplier relationships. AI in procurement isn’t just about technology—it's about smarter, faster, and more impactful procurement. #aiinprocurement #supplychaininnovation #digitaltransformation #strategicsourcing #smartprocurement #futureofprocurement Full read here: https://lnkd.in/dAyK2dsM

Turning the procurement function into a data-driven, AI-enabled organization is a process of transformation – one that will help data and technology savvy organizations make a step change in procurement. Companies that efficiently and effectively use their data and AI capabilities are seeing a potential 200% increase in their value generation pipeline – from using gen AI to better manage categories to navigating supply chain risks and boosting supplier performance. Read the full article on the data-driven revolution ➡️ https://lnkd.in/gKieYh6Y #procurement #sourcing #data #AI #genAI #categorymanagement

🚀 The Future of Supplier Collaboration is Here – Thanks to AI! 🚀 AI is transforming supplier collaboration by providing real-time insights, enhancing supplier management, and automating complex processes to deepen supplier relationships. In our latest article, we explore how AI-driven tools allow procurement teams to optimize every stage of supplier interaction: 🔍 Better Performance Management: AI enables proactive interventions and real-time risk assessments, providing a complete view of supplier capabilities and compliance. 📊 Data-Driven Decision Making: Predictive and prescriptive analytics identify cost-saving opportunities, while automated risk monitoring keeps you ahead of disruptions. 📦 Efficient Inventory & Logistics: AI-powered insights into inventory and logistics streamline procurement, cut costs, and optimize inventory levels. AI isn’t just a tool; it’s a game-changer for procurement teams striving for efficient, reliable supplier relationships. Dive into the full article to see how AI can future-proof your supplier management strategy! #Procurement #AI #SupplierCollaboration #SupplyChainInnovation

Turning the procurement function into a data-driven, AI-enabled organization is a process of transformation – one that will help data and technology savvy organizations make a step change in procurement. Companies that efficiently and effectively use their data and AI capabilities are seeing a potential 200% increase in their value generation pipeline – from using gen AI to better manage categories to navigating supply chain risks and boosting supplier performance. Learn more from McKinsey partner Theano Liakopoulou and read the full article on the data-driven revolution ➡️ https://lnkd.in/e8S-Fyvz #procurement #sourcing #data #AI #genAI #categorymanagement

Did you know that our latest upgrade of enhanced negotiation engine at #ProcureAi brings the negotiation engine to life, enabling dynamic, adaptable conversations that mirror the natural flow of real negotiations? What it means is that: with varied conversational patterns, every interaction feels more engaging, driving better outcomes and transforming procurement into a truly interactive experience. What a great step forward!

Turning the procurement function into a data-driven, AI-enabled organization is a process of transformation – one that will help data and technology savvy organizations make a step change in procurement. Companies that efficiently and effectively use their data and AI capabilities are seeing a potential 200% increase in their value generation pipeline – from using gen AI to better manage categories to navigating supply chain risks and boosting supplier performance. Learn more from McKinsey partner Theano Liakopoulou and read the full article on the data-driven revolution ➡️ https://lnkd.in/eePVhjid #procurement #sourcing #data #AI #genAI #categorymanagement

Turning the procurement function into a data-driven, AI-enabled organization is a process of transformation – one that will help data and technology savvy organizations make a step change in procurement. Companies that efficiently and effectively use their data and AI capabilities are seeing a potential 200% increase in their value generation pipeline – from using gen AI to better manage categories to navigating supply chain risks and boosting supplier performance. Learn more from McKinsey partner Theano Liakopoulou and read the full article on the data-driven revolution ➡️ https://lnkd.in/ezPW4k7u #procurement #sourcing #data #AI #genAI #categorymanagement