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TECHNOLOGY
“ The ability to automate decision making is a fast-growing trend that ’ s driving positive outcomes for supply chain functions ”
JENNIFER CHAPLAIN , SOLUTION ENGINEERING & CUSTOMER ENGAGEMENT PRINCIPAL ,
AERA TECHNOLOGY the business as a whole . This approach combines data science with digital technologies to understand the business , make recommendations , take action , and learn from decisions and outcomes . With AI and ML constantly analysing data , teams can consider more variables in purchasing and supply chain decisions than before . The system identifies patterns that people might miss , enabling teams to act quickly as market conditions shift .
Also , by capturing decisions and their outcomes , procurement teams can ( for instance ) better understand discrepancies between budgeted and actual spend .
They can balance risk , cost , quality , and other factors whilst making sure that decisions and outcomes align with business objectives .
What benefits is automation bringing procurement ? With improved tools to analyse data , and digitise and automate decisions , procurement teams are identifying new opportunities for cost reduction and savings .
One of the best outcomes is improved communication , collaboration , and accountability , not just within the team but across the enterprise and its ecosystem of
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