Welcome to our debut AI in Procurement Playbook!
One of the biggest buzzwords in the procurement space today, and indeed the wider world, is generative AI. While the promise of time and cost savings while eliminating boring, antiquated ways of working is a particularly enticing offer, the importance of implementing a robust AI strategy cannot be understated.
Today, a well-constructed procurement tech stack is a necessity for functions. As organisations manage ever-changing global supply chain disruptions, procurement finds itself compelled to keep pace with technological evolution.
Failure to pivot quickly to the latest innovations could be a company’s downfall. On the other hand, embracing new technology for technologies sake or simply because of competitors could be equally costly.
In truth, there has never been a finer balance to strike. So, where does a Chief Procurement Officer start?
AI in Procurement Playbook
That’s where CPOstrategy’s AI in Procurement Playbook comes in.
Earlier this year, we developed the AI in Procurement Champions Index 2024, a list of 104 trailblazers redefining the procurement landscape. This accolade recognises individuals who utilise AI to create more resilient, transparent, and responsive procurement functions.
The AI in Procurement Champions are at the forefront of innovation and strategic thought, revolutionising procurement through AI. This esteemed group comprises industry pioneers, AI experts, forward-thinking executives, and disruptors from across the globe. Champions featured in this index come from a broad spectrum of industries and company sizes, identified through a mix of peer nominations and thorough evaluations.
In conjunction with this, we worked with 10 highly respected leaders from the index to create a comprehensive playbook. This playbook provides an honest viewpoint on what implementing AI into your procurement function may look like, offering invaluable insights into how practitioners navigate the digital-driven procurement landscape of today.
Inside these pages are success stories, real challenges that leaders face today, and actionable steps CPOs can utilise on their journeys to harnessing operational excellence and technological efficiency within procurement.
Enjoy!
Check it out here.
