Say Hi to the Advanced-Tech Procurement Function

Some call the application of advanced technologies to the procurement process the "last frontier" of technology. From game theory to artificial intelligence, procurement is finally joining the technology revolution.
— By Debra Jenkins

Say “Good-bye” to the old way of procuring goods and services, and say “Hi” to the utilization of advanced technologies. In the wild west of tech development, new technologies and the innovation they promote are driving procurement into the 21st century and beyond. As one of the last business functions eyed for improvement through technology, procurement operations across industries are adopting sophisticated technologies that create value and savings.

Some of the exciting game changing tech-based strategies include game theory, artificial intelligence (AI), cognitive buying and algorithmic purchasing. They are in use, and with ongoing refinement, promise to turn the last frontier of business application of...

Read full article or Subscribe