PROCUREMENT “Embedded intelligence helps people to predict and mitigate risk , share skills and knowledge , and collaborate better with suppliers and stakeholders ”
JIM BUREAU CEO , JAGGAER
Bureau signals a rise in emerging technologies , such as artificial intelligence ( AI ), machine learning ( ML ), predictive analytics , and natural language processing ( NLP ), which will further connect suppliers and help procurement professionals manage and develop their partnerships . “ This embedded intelligence helps people to predict and mitigate risk , share skills and knowledge , and collaborate better with suppliers and stakeholders ,” he says .
Other emerging technologies , including blockchain , will open up further opportunities . Some of the world ’ s largest organisations are already piloting the technology . “ As an example , Walmart Canada has already begun using blockchain with the logistics companies that transport its goods ,” says Nath . “ A shared blockchain makes it possible to synchronise logistics data , track shipments and automate
50 November 2021