Spendscape by McKinsey’s Post

🌟 Innovation at the Forefront: Vroozi’s AI-Driven Approach to Procurement 🌟 At Vroozi, we're passionate about harnessing the power of AI to redefine the procurement landscape. A recent insightful article by Abigail Ommen delves into the crucial role of AI in procurement, specifically its impact on Intake and Orchestration processes. This discussion is not just theoretical for us at Vroozi, it's the cornerstone of our mission to revolutionize procurement through technology. AI's capacity to streamline complex workflows, enhance user experiences, and automate operations aligns perfectly with our ethos of driving efficiency and strategic decision-making. The piece highlights the evolving role of GenAI and Large Language Models (LLMs), which we at Vroozi are leveraging to push the boundaries of what's possible in procurement technology. Our inclusion in a recent Spend Matters vendor survey underscores our commitment to leading the charge in AI-powered procurement solutions. It's a testament to our dedication to not only keeping pace with technological advancements but being at the vanguard, shaping the future of procurement. Why is this pivotal for our industry? The integration of AI into procurement processes opens up new horizons for efficiency, cost savings, and enhanced supplier relationships. It enables us to offer solutions that are not just about managing spend but transforming the entire procurement lifecycle into a strategic asset for businesses. 🔗 https://lnkd.in/gcfRzKBq #AIinProcurement #DigitalTransformation #TechInnovation #StrategicProcurement #Vroozi #FutureOfWork #AI

Roland Berger's GenAI platform is revolutionizing #procurement by integrating internal and external data through #KnowledgeGraph technology. This secure, data-protected environment allows the use of advanced #GenAI models like OpenAI's #GPT4 on confidential company information. Employees worldwide can access consistent procurement knowledge, leveraging GenAI to locate, analyze, evaluate, and process data efficiently. 📊 The platform's "knowledge hub" function supports various GenAI-powered apps, including the Cost Savings Agent, which uncovers savings opportunities, accelerates assessments, and reduces project durations. From automated spend analysis to real-time opportunity identification, our GenAI Platform and Cost Savings Agent streamline processes and maximize cost savings. 💡 Explore how GenAI can transform procurement category strategies for companies. Download the full study on AI in Procurement now: ➡️ https://lnkd.in/dq49gW5B #RolandBerger Felix Mogge

In a recent discussion at the ProcureTech Founder's Circle, our CEO Michael Pleuger shared his forward-thinking views on the evolving role of Gen AI in procurement. He emphasized a significant shift from mere traditional AI-enabled automation to a more nuanced concept of augmentation. This perspective resonates strongly with what we are championing at akirolabs. Michael articulated that while AI's initial appeal in procurement was largely about streamlining and automating processes, its true potential lies in its ability to augment human intelligence and capabilities. This shift marks a transition from using AI as a tool for replacing manual tasks to leveraging it as a partner in strategic decision-making and problem-solving. At akirolabs, we are at the forefront of this transition. Our latest innovation, akiroGPT, is a prime example of how we're integrating AI to complement and elevate the strategic capacities of procurement professionals. akiroGPT is designed to provide deep subject matter insights, aid in complex decision-making, and offer strategic guidance akin to that of a human expert. This approach underscores our commitment to not just adapting to the AI revolution in procurement but leading it. By moving from automation to augmentation, we aim to empower procurement teams with AI tools that enhance their strategic thinking, adaptability, and overall effectiveness. We're excited to see how this shift will redefine the #procurement landscape and invite you to share your thoughts on how AI-driven augmentation can transform your approach to strategic procurement! #digitalprocurement #procuretech #ai

Replan's Top 4 Challenges for using GenAI in Supply Planning Challenge 1: Poor data certainty and the lack of explainability in GenAI can severely undermine the reliability of your S&OP review and other planning processes. Impact: Mismanaged GenAI deployments could exacerbate data issues, making it harder to trust key metrics and complicating the decision-making process. Click here to read the other 3 challenges: https://lnkd.in/dUCZm3mN #AI #SupplyChain #Innovation #GenAI"

At UBIX.AI, we're proud to be at the forefront of AI solutions for supply chain management, bringing advanced AI to organizations of all sizes. We transform complex logistics into streamlined operations with user friendly no-code AI. It's not just about improving; it's about leading in efficiency and innovation. 🚀 🧠 Learn more in the comments below. #AI #analytics #supplychain #forecasting

Have been familiar with UBIX's capabilities for the last few years. So, some personal analysis on why & what, are in order. Logistics optimizations can be hard - its not just quadratic optimizations for route planning, but also dealing with constraints of demur-rage charges, mapping to the needs of time varying customer demand and often end up using complex multi-step inference chains. But, building/combining such chains of inference manually for functional-AI can be hard, expensive, require domain+deep-tech skills and usually quite fragile - so, UBIX's no-code composition capabilities and pre-built domain outcomes, really is a unique step forward for building industry specific AI apps; a capability that I have not seen before.

❓ How to pick the right AI use cases for successful scaling and maximising global value generation, with best practices from large multinationals? Looking forward to Handelsblatt‘s #HBAISummit 2023 in Munich and our joint Breakout Session where I will have the honor to discuss with fellow AI experts Dexin Luo Linde and Michael Pfeiffer Bosch: * How to decide on “the right ” AI/#ML Use Case? * How to drive AI use case portfolio selection, implementation and scaling (#AIGovernance, #ResponsibleAI, #MLOps, Automation) including data product management in a global corporation? Best practices for data product management: What‘s the optimum process to manage your data products and AI use case portfolio, as well as your stakeholders? * Make or buy for AI Applications * Best practices for value measurement and many more #HBAISummit #GenerativeKI #AI #Handelsblatt #MachineLearning #FutureTech #Innovation #womenintech #womenintechnology Larissa Holzki Dr. Andreas Liebl Dr. Philipp Hartmann Bernhard Pflugfelder

The potential for transforming operations through data-driven production optimization is immense, promising to revolutionize efficiency, cut costs, and foster sustainability using AI tools. Yet, a persistent challenge in asset-heavy industries remains - the difficulty in accessing and utilizing data. Industrial Data Operations (DataOps) helps industrial organizations to break down silos and simplify access to complex industrial data. This enables seamless data utilization, empowering generative AI models to develop and deploy scalable solutions. In the new white paper, Cognite shares insights on this transformative approach! Check it out and share your thoughts! #data #generativeai #oilandgas #digitaltransformation

The fusion of Artificial Intelligence (AI) with supply chain management has undeniably reshaped how businesses function and thrive. This piece delves deep into the transformative effects of AI integration within supply chains, paving the way for enhanced efficiencies and impactful decision-making.🤖📦 The article highlights how AI-driven software solutions are altering the landscape, exemplified by global entities like GEP, employing AI algorithms to streamline various facets, from demand forecasting to logistics optimization. It's fascinating to witness AI's role in honing predictive abilities, fine-tuning inventory management, and orchestrating seamless logistics, ultimately empowering organizations with a competitive edge. If you work on supply chain, how do you envision AI further transforming supply chain operations in the near future? 🔗Read the full article here: https://lnkd.in/ggPpA3ST

 ➡ AI's Price Forecasting Advantage Navigating price fluctuations is a constant challenge. McKinsey highlights AI's potential in precise price forecasting. Organizations embracing AI-powered price insights witness optimized procurement, reduced costs, and improved profitability.    ➡Why Opt for QIPP: QIPP's AI-centric approach revolutionizes price forecasting. By analyzing market indices and historical data, QIPP empowers businesses to make data-driven price predictions. With QIPP, you gain the edge of informed negotiations and strategic procurement.    McKinsey Article: https://lnkd.in/e2Qy2et   #PriceForecasting #AIInsights #DataDrivenDecisions #StrategicProcurement