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AI in Procurement: Revolutionizing the Future of Supply Chain Management
Artificial intelligence is transforming procurement by automating complex tasks, enhancing decision-making, and improving user experiences. In a world where efficiency and accuracy are paramount, AI offers procurement leaders the tools they need to streamline operations and drive innovation. By developing a robust AI strategy, investing in data quality, and upskilling teams, procurement functions can achieve…
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AI in Procurement: 2024
Context The integration of Artificial Intelligence (AI) into various industries has revolutionized traditional processes, bringing about a paradigm shift in efficiency, accuracy, and innovation. One such field benefiting from AI advancements is procurement. In this article lets focus on AI in Procurement, and explor the fundamentals of AI and ChatGPT, particularly Computer aided design (CAD)…
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Negotiating with Hard Bargainers – The Secret Sauce
It’s probably the #1 question we get from clients – how do we negotiate with hard bargainers? Well, the question itself implies that there is something wrong with your negotiation process. Why? Because a hard bargainer is someone who doesn’t budge at the negotiation table, and that’s far too late in the process to be…
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Negotiation Advice
In the news this last week was that a powerful US politician is desperately pushing to increase taxes on the big oil companies by 10%.Free money? Far from it. The oil companies will just casually raise the price of oil by exactly 10% and, as with all supply chains, the costs will roll straight downhill…
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Procurement came to you, not the other way around!
Procurement – The ONLY Accidental Profession Left in the 21st Century! During the last 27 years, we’ve asked well over 30,000 people in our profession (which includes Competitors View annual conferences), the same exact question: “How many of you planned on being in this profession, coming out of high school — and then pursued an…
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Is Purchasing REALLY Valued in Your Organization?
We could poll all of our procurement community to find out your opinion on this topic: “Does your organization value the purchasing function?” However, it would be a worthless survey, because you aren’t the right people to ask…..of course you value your own function. We can’t rely on internal end user/customer surveys either, because those are…
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Purchasing Leadership – Do You Have The Right Stuff?
What does it take to be a great purchasing leader? Thomas Foxwell Buxton is quoted as having once said: “With ordinary talent and extraordinary perseverance, all things are attainable.” World class purchasing leadership isn’t much different. The #1 differentiator: THE ABILITY TO DRIVE CHANGE USING INFLUENCE INSTEAD OF AUTHORITY. That’s it. Simple words, incredible actions behind making it…
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Disruptive Negotiations – What You Need to Know
Ordinary negotiators abound. Ordinary negotiators take the circumstances of a deal and negotiate the best outcome, usually focusing on price. They mostly focus on at-the-table negotiation strategies and measure their results on misaligned comprehensive criteria. Ordinary negotiators get walked all over by suppliers and never know it. Master Negotiators, in contrast, upset negotiation dynamics. Master Negotiators…
