Veridion’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

Are chatbots the secret weapon to your procurement strategy?    You won’t believe how much time free AI can save.    Purchasing teams are quickly adopting artificial intelligence - a recent survey from AI at Wharton found that 94% of procurement professionals were using #AI chatbots at least weekly.    That’s up dramatically in 1 year. Only 50% were using #chatbots weekly in 2023.    Chatbots are super helpful time savers for a ton of things #purchasing pros do on a daily basis.    We highlight example prompts for 9 different areas in our AI Chatbots for Purchasing course, ranging from sourcing to risk management to strategy development.      Here’s 3 prompts you can use for developing procurement strategies, with no data upload required.    I𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝘀𝘂𝗽𝗽𝗹𝗶𝗲𝗿 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗺𝗮𝘁𝗲𝗿𝗶𝗮𝗹𝘀 𝘆𝗼𝘂 𝗯𝘂𝘆 𝘈𝘴 𝘢 𝘣𝘶𝘺𝘦𝘳 𝘰𝘧 [𝘤𝘰𝘮𝘱𝘰𝘯𝘦𝘯𝘵𝘴] 𝘧𝘰𝘳 𝘵𝘩𝘦 [𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺] 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺, 𝘴𝘦𝘢𝘳𝘤𝘩 𝘵𝘩𝘦 𝘸𝘦𝘣 𝘵𝘰 𝘧𝘪𝘯𝘥 10 𝘴𝘶𝘱𝘱𝘭𝘪𝘦𝘳𝘴 𝘵𝘩𝘢𝘵 𝘱𝘳𝘰𝘥𝘶𝘤𝘦 𝘵𝘩𝘦𝘴𝘦 𝘤𝘰𝘮𝘱𝘰𝘯𝘦𝘯𝘵𝘴.  𝘊𝘳𝘦𝘢𝘵𝘦 𝘢 𝘵𝘢𝘣𝘭𝘦 𝘴𝘩𝘰𝘸𝘪𝘯𝘨 𝘵𝘩𝘦 𝘢𝘯𝘺 𝘯𝘦𝘸 𝘮𝘢𝘵𝘦𝘳𝘪𝘢𝘭𝘴 𝘰𝘳 𝘴𝘦𝘳𝘷𝘪𝘤𝘦𝘴 𝘩𝘪𝘨𝘩𝘭𝘪𝘨𝘩𝘵𝘦𝘥 𝘰𝘯 𝘵𝘩𝘦𝘴𝘦 𝘴𝘶𝘱𝘱𝘭𝘪𝘦𝘳𝘴' 𝘸𝘦𝘣𝘴𝘪𝘵𝘦𝘴.    𝗥𝗲𝘃𝗶𝘀𝗲 𝗮 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝘆 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗯𝗮𝘀𝗲𝗱 𝗼𝗻 𝗿𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝘀𝘂𝗽𝗽𝗹𝘆 𝗱𝗶𝘀𝗿𝘂𝗽𝘁𝗶𝗼𝗻𝘀  𝘈𝘴 𝘢 [𝘮𝘢𝘵𝘦𝘳𝘪𝘢𝘭] 𝘣𝘶𝘺𝘦𝘳 𝘧𝘰𝘳 𝘱𝘭𝘢𝘯𝘵𝘴 𝘭𝘰𝘤𝘢𝘵𝘦𝘥 𝘪𝘯 [𝘤𝘰𝘶𝘯𝘵𝘳𝘺], 𝘺𝘰𝘶 𝘳𝘦𝘭𝘺 𝘰𝘯 𝘮𝘢𝘵𝘦𝘳𝘪𝘢𝘭𝘴 𝘮𝘢𝘯𝘶𝘧𝘢𝘤𝘵𝘶𝘳𝘦𝘥 𝘪𝘯 [𝘳𝘦𝘨𝘪𝘰𝘯].  𝘞𝘩𝘢𝘵 𝘤𝘩𝘢𝘯𝘨𝘦𝘴 𝘤𝘢𝘯 𝘺𝘰𝘶 𝘮𝘢𝘬𝘦 𝘪𝘧 [𝘦𝘷𝘦𝘯𝘵] 𝘢𝘧𝘧𝘦𝘤𝘵𝘴 𝘵𝘩𝘦𝘴𝘦 𝘳𝘦𝘨𝘪𝘰𝘯𝘴 𝘢𝘯𝘥 𝘴𝘶𝘱𝘱𝘭𝘺 𝘪𝘴 𝘥𝘪𝘴𝘳𝘶𝘱𝘵𝘦𝘥?    𝗦𝗰𝗲𝗻𝗮𝗿𝗶𝗼 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴  𝘈𝘴 𝘢 [𝘤𝘢𝘵𝘦𝘨𝘰𝘳𝘺] 𝘤𝘢𝘵𝘦𝘨𝘰𝘳𝘺 𝘮𝘢𝘯𝘢𝘨𝘦𝘳 𝘧𝘰𝘳 𝘢 [𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺] 𝘮𝘢𝘯𝘶𝘧𝘢𝘤𝘵𝘶𝘳𝘦𝘳, 𝘺𝘰𝘶 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘢𝘴𝘴𝘦𝘴𝘴 𝘥𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘵 𝘴𝘤𝘦𝘯𝘢𝘳𝘪𝘰𝘴.  𝘞𝘩𝘢𝘵 𝘤𝘩𝘢𝘯𝘨𝘦𝘴 𝘴𝘩𝘰𝘶𝘭𝘥 𝘺𝘰𝘶 𝘮𝘢𝘬𝘦 𝘪𝘧 [𝘤𝘰𝘴𝘵 𝘤𝘢𝘵𝘦𝘨𝘰𝘳𝘺] 𝘧𝘳𝘰𝘮 [𝘳𝘦𝘨𝘪𝘰𝘯] [𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘦/𝘥𝘦𝘤𝘳𝘦𝘢𝘴𝘦] 𝘴𝘩𝘢𝘳𝘱𝘭𝘺 [𝘢𝘮𝘰𝘶𝘯𝘵 𝘢𝘯𝘥 𝘵𝘪𝘮𝘦𝘧𝘳𝘢𝘮𝘦]? timeframe]?    Want to learn more about APD’s AI Chatbots for Purchasing course for manufacturing purchasing teams? DM me, and let's discuss how we help companies build skills that directly link to purchasing performance. Feel free to repost these tips to share the knowledge with your team and network!

By enhancing creativity, innovation, impact, and personal branding, AI is transforming procurement from a traditional box-ticking function into a cutting-edge space for growth and opportunity. As AI democratizes data access and automates routine tasks, it empowers procurement teams to make a real impact on global trade. #ProcurementInnovation #DigitalTransformation

Today's AI use case: Supplier performance scoring Supplier performance scoring is paramount for effective procurement management, yet many organizations struggle to implement it consistently. There are many challenges, from manual data collection to subjective evaluations, leading to inconsistencies and missed opportunities. The consequences of neglecting supplier performance scoring are significant, including increased risk, quality issues, and missed cost-saving opportunities. Fortunately, AI offers a solution, automating data collection, analyzing supplier metrics, and providing objective performance scores in real-time. With AI, organizations can enhance supplier evaluations, mitigate risks, and drive strategic decision-making. Ready to elevate your procurement game? Let's embrace AI together and unlock new possibilities for success. 💼💡 #AI #Procurement #SupplierPerformance #DataAnalytics #DigitalTransformation #Innovation #EaseworkwithAI

🌟 Unlocking the Power of Supplier Performance Scoring with AI 🌟 Supplier performance scoring is the backbone of effective procurement management, yet many organizations struggle to execute it consistently. Critical Importance: Supplier performance scoring is vital for assessing supplier reliability, quality, and overall contribution to the organization's goals. It ensures accountability, drives continuous improvement, and mitigates risks across the supply chain. Challenges Abound: Manual scoring processes are time-consuming, subjective, and prone to errors. Limited data visibility and disparate systems further complicate the process, making it challenging to derive accurate and actionable insights. Impact of Inconsistency: Inconsistent supplier performance scoring can lead to suboptimal decision-making, increased supply chain risks, and missed cost-saving opportunities. It erodes trust, strains supplier relationships, and ultimately impacts the organization's bottom line. AI is here to revolutionize supplier performance scoring! Here's how: Data Aggregation: AI aggregates data from various sources, including transactional records, delivery timelines, quality reports, and more, providing a comprehensive view of supplier performance. Real-time Insights: With AI, organizations gain real-time insights into supplier performance metrics, enabling proactive decision-making and risk mitigation strategies. Predictive Analytics: AI leverages predictive analytics to forecast supplier performance trends, anticipate potential issues, and optimize procurement strategies accordingly. Objective Evaluation: AI eliminates subjective bias by objectively evaluating supplier performance based on predefined criteria and benchmarks, ensuring fairness and transparency in the scoring process. Continuous Improvement: AI-driven supplier performance scoring facilitates continuous improvement by identifying areas for enhancement, refining evaluation criteria, and fostering collaboration between buyers and suppliers. Say goodbye to outdated scoring methods and hello to AI-powered supplier performance scoring! Ready to elevate your procurement game? Let's embrace AI together and unlock new possibilities for success. 💼💡 #AI #Procurement #SupplierPerformance #DataAnalytics #DigitalTransformation #Innovation #EaseworkwithAI

🚀 Transforming Supply Chain Management with AI: A Strategic Blueprint 🚀 In the dynamic world of supply chain management, embracing Artificial Intelligence (AI) is not just an option; it's a necessity for staying ahead. Here's how we're integrating AI to revolutionize our supply chain operations: 1. Identifying the Challenge: We start by pinpointing the exact supply chain issues that AI can solve, setting clear goals, and understanding the data and computational needs. 2. Data Acquisition: Our journey continues with gathering diverse, high-quality datasets that mirror the complexities of our supply chain, ensuring our AI models are built on solid foundations. 3. Data Preparation: We meticulously clean and organize our data, preparing it for seamless integration with AI technologies, ensuring accuracy and efficiency in our processes. 4. Technology Selection: Choosing the right AI technology is crucial. We evaluate options based on their ability to address our specific challenges, ensuring we deploy the most effective tools. 5. Model Development: With the right data and technology in place, we train our AI models, fine-tuning them to achieve unparalleled efficiency and accuracy in our supply chain operations. 6. Evaluation and Validation: Rigorous testing and validation ensure our AI models perform flawlessly across various scenarios, guaranteeing reliability and robustness in our supply chain solutions. 7. Refinement and Enhancement: Continuous improvement is our mantra. We iteratively refine our AI models, enhancing their capabilities and ensuring they evolve with our supply chain needs. 8. Implementation: Deploying our AI solutions into the heart of our operations, we monitor and adapt them to ensure they deliver real-world results, driving efficiency and scalability. 9. Ongoing Adaptation: The supply chain world is ever-changing, and so are our AI models. We regularly update them with new data, ensuring they remain relevant and effective. 10. Feedback Integration: Stakeholder feedback is gold. We use it to further refine our AI solutions, ensuring they not only meet but exceed our operational needs and expectations. By strategically integrating AI into our supply chain, we're not just optimizing operations; we're redefining what's possible. Join us on this journey as we pave the way for a smarter, more efficient future in supply chain management. #supplychaininnovation #artificialintelligence #operationalexcellence #futureofsupplychain Credits: Denis Panjuta https://lnkd.in/e553iPnG ⭐️NeuraNet Newsletter: https://lnkd.in/dXJhwR8a

Exciting Insights from ProcureCon's Latest Research Report on AI in Procurement! This research was created in partnership with Coupa Software Beroe Inc Airbase Certa.ai Braintrust [https://bit.ly/3RaND4x] We're thrilled to share our latest findings on the transformative impact of Artificial Intelligence (AI) on procurement and supply chain functions. As AI continues to revolutionize these sectors, our report highlights several key insights that are shaping the future of procurement: 🔹 Widespread AI Adoption: AI adoption in procurement is growing, but many organizations are still in the early stages. Despite this, the potential for AI to enhance decision-making, efficiency, and strategic supplier relationship management is immense. 🔹 Significant Benefits: AI is yielding substantial benefits, including improvements in real-time data analytics, risk management, and compliance adherence. Our respondents are optimistic about AI's ability to drive professional growth and operational excellence. 🔹 Generative AI on the Rise: Generative AI is making waves, particularly in category management market intelligence, supplier onboarding, and expense report management. This technology is not only automating routine tasks but also generating innovative insights and solutions. 🔹 Strategic AI Investments: Over the next three years, 95% of procurement leaders plan to increase their AI investments. They recognize AI as crucial for optimizing procurement processes, enhancing supplier negotiations, and driving cost savings through better decision-making and risk management. 🔹 Future Outlook: The future of procurement is bright with AI. Leaders anticipate significant strides in efficiency, decision-making, and supplier relationship management. AI is set to make procurement more strategic, data-driven, and responsive to the fast-paced global market. We're excited to see how AI will continue to reshape procurement and supply chain management, driving innovation and excellence. Dive deeper into our report to explore how you can leverage AI to stay ahead in this dynamic landscape! 📊 [https://bit.ly/3RaND4x] #Procurement #SupplyChain #ArtificialIntelligence #AI #Innovation #DataAnalytics #RiskManagement #GenerativeAI #FutureOfWork

AI Procurement Revolution: Streamline, Strategize, Win The digital age demands a smarter procurement approach. Enter AI, transforming how businesses manage costs, build partnerships, and gain a competitive edge. This blog explores how AI is revolutionizing procurement: * Effortless Efficiency: Automate tasks, free up teams, and streamline operations. * Data-Driven Decisions: Gain insights to optimize costs, manage risks, and make informed choices. * Strategic Advantage: Fuel innovation, build strong supplier relationships, and achieve sustainable growth. From cost savings to risk mitigation, discover the power of AI in procurement. Ready to unlock the future? Learn how AI can help your business thrive! ➡️ https://lnkd.in/gpTNMBKy #AIProcurement #DigitalTransformation #SupplyChain

How AI Can Make Your Supply Chain Smarter and More Resilient. Supply chains these days are under a lot of pressure—unexpected delays, shortages, and shifting demand are all part of the game now. But the good news is, AI is helping companies stay ahead of these challenges and keep things running smoothly. In my latest article, I share practical ways to bring AI into your supply chain. I’ve included real examples from companies like Amazon, GM, and UPS to show how AI is being used to improve everything from logistics and risk management to sustainability. Whether you're just starting to explore AI or looking for tips to enhance your current setup, there's something in here for you. Curious about how AI can help your supply chain run smarter and faster? Check it out! https://lnkd.in/eAABttBD #AI #SupplyChain #Innovation #Logistics #PredictiveAnalytics #Sustainability #BusinessGrowth #FutureReady

𝐇𝐨𝐰 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐈 𝐢𝐬 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐩𝐫𝐨𝐜𝐮𝐫𝐞𝐦𝐞𝐧𝐭 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬 𝐢𝐧 𝟐𝟎𝟐𝟒? 𝟏. 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐧𝐠 𝐑𝐨𝐮𝐭𝐢𝐧𝐞 𝐓𝐚𝐬𝐤𝐬 🤖 : ➡ Generative AI can handle repetitive tasks like data entry and invoice processing. ➡ This frees up time for employees to focus on more strategic activities. 𝟐. 𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐒𝐮𝐩𝐩𝐥𝐢𝐞𝐫 𝐒𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧🔎 : ➡ AI analyses vast amounts of supplier data to identify the best options. ➡It considers factors like cost, quality, and delivery time to make informed decisions. 𝟑. 𝐏𝐫𝐞𝐝𝐢𝐜𝐭𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝📈 : ➡ Generative AI forecasts future demand based on historical data and market trends. ➡ This helps companies maintain optimal inventory levels and avoid stockouts or overstock situations. 𝟒. 𝐈𝐦𝐩𝐫𝐨𝐯𝐢𝐧𝐠 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭👨💻 : ➡AI can review and analyze contracts to ensure compliance and identify potential risks. ➡It highlights key terms and conditions, making it easier to manage contractual obligations. 𝟓. 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐍𝐞𝐠𝐨𝐭𝐢𝐚𝐭𝐢𝐨𝐧 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 🎯 : ➡ AI provides insights into supplier behaviour and market conditions. ➡ This information helps procurement teams negotiate better deals and terms. 𝟔. 𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐒𝐩𝐞𝐧𝐝 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 💱 : ➡Generative AI categorizes and analyses spending data to identify cost-saving opportunities. ➡It provides a clear picture of where money is being spent and how to optimize procurement budgets. 𝟕. 𝐅𝐚𝐜𝐢𝐥𝐢𝐭𝐚𝐭𝐢𝐧𝐠 𝐒𝐮𝐩𝐩𝐥𝐢𝐞𝐫 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 🖇 : ➡ AI platforms enable seamless communication and collaboration with suppliers. ➡This fosters stronger relationships and improves overall supply chain efficiency. ➡ Embrace generative AI to revolutionize your procurement processes. ➡Unlock new levels of efficiency and decision-making. #GenerativeAI #Procurement2024 #AIinProcurement #SupplyChainInnovation #DigitalTransformation #SupplierManagement #ContractManagement #SpendAnalysis #SupplyChainEfficiency #ProcurementTrends #AIForBusiness #StrategicSourcing #FutureOfProcurement #BusinessInnovation #TechInProcurement #ProcurementAutomation #AIInsights #SupplyChainResilience #ProcurementOptimization #SupplierCollaboration.