Ian Leaman’s Post

The future of sales and procurement holds great potential with the integration of AI for both parties involved. I read a lot about #ai being the holy grail. Here's my take on how it might work: 1. Enhanced Efficiency: AI can automate time-consuming tasks such as data analysis, market research, and order processing, helping sales and procurement teams to work more efficiently. AI-powered tools can quickly analyze vast amounts of data and provide actionable insights, enabling sales teams to identify potential leads and procurement teams to make informed decisions about suppliers and pricing. 2. Improved Forecasting and Planning: With AI's ability to analyze historical data and detect patterns, both sales and procurement can benefit from accurate forecasting and planning. AI algorithms can predict sales trends, demand patterns, and future market conditions, enabling procurement teams to optimize inventory levels and negotiate better deals with suppliers. 3. Personalized Sales and Procurement Experiences: AI can help provide personalized experiences for both buyers and sellers. By analyzing customer data, AI can offer personalized product recommendations to potential buyers. On the procurement side, AI can use supplier data to suggest the most suitable vendors for specific requirements and negotiate terms based on historical data. 4. Streamlined Contract Management: AI can play a crucial role in contract management by automating contract creation, reviewing, and analysis. AI-powered contract management systems can identify risks, suggest improvements, and ensure compliance with legal requirements. This automation can save time and reduce errors, enabling sales and procurement teams to focus on higher-value strategic activities. 5. Improved Customer Engagement: AI-powered chatbots and virtual assistants can provide instant customer support and answer common queries, freeing up sales teams to focus on more complex tasks. These AI-driven customer engagement tools can offer personalized recommendations and assistance to improve customer satisfaction and drive sales. It's important to note that while AI can enhance sales and procurement processes, it should be used in a complementary role to human decision-making. Human expertise, intuition, and relationship-building skills will continue to be essential in sales and procurement interactions. So all of you in #contractmanagement do not stop investing in your personal skills and your relations. Do not stop learning.

𝗔𝗿𝗲 𝘆𝗼𝘂 𝗽𝗿𝗲𝗽𝗮𝗿𝗲𝗱 𝘁𝗼 𝘂𝘁𝗶𝗹𝗶𝘇𝗲 𝗔𝗜 𝘁𝗼 𝗯𝗼𝗼𝘀𝘁 𝘆𝗼𝘂𝗿 𝗹𝗼𝗴𝗶𝘀𝘁𝗶𝗰𝘀 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀?   Numerous advantages provided by AI can improve customer satisfaction, increase productivity, and streamline processes. But, where do we start?   ... This comprehensive guide explores how AI is reshaping the logistics sector.  Just some quick notes:   👉 Recall that implementing #AI requires ongoing effort rather than a one-time event since AI models require time to train and test. It will take time to see results when you decide to put these tools into practice, so don't wait until not having the correct tool becomes a disadvantage in the marketplace. Using consultants could help implement changes more quickly and error-free.  👉 At VMO Holdings, we've led this advancement by offering #logistic businesses software outsourcing solutions. We know AI's revolutionary potential and how it can influence change in your company. With our experience in #software #outsourcing, we use AI's ability to assist companies in navigating this dynamic environment.

10 questions to ask yourself before you automate your logistics operation: 1. How well do your current warehouse employees cover your needs? 2. How many shifts/hours are worked per day? 3. How many order lines do you have on average and at peak? 4. What is your inbound/outbound flow of goods? 5. What is the number of pallets? 6. What percentage of your processes are manual? 7. What is the IT skill level in your organisation? 8. How much can you afford to invest? 9. How much master data are you sitting on and how accurate is it? 10. Have you considered all options? Full automation is not always the answer. Sometimes your business model requires little automation that can bring massive ROI. #logistics #SupplyChain #WarehouseAutomation #ComputerVision #ai

#supplychain #transportation When will you integrate AI into your supply chain? Is this even something you have considered, yet? One thing is clear: when we manually handle tasks such as processing product catalogues, purchasing materials, and shipping them, our efficiency is extremely low. This is true for all facets of our work from demand forecasting and inventory control to route optimization. AI is well-suited for these tasks if your data is clean, and you have lots of it. For example, when you can access carrier pricing and schedules, it is very easy to find the best options and trigger contracts in real-time. Despite several promising initiatives in retail and manufacturing, we are still at the outset though. When things become even more confounding is during execution. For example, we have the issue that we can't just look over people's shoulders when they work on our behalf. This is a key difference to many other fields in business. If you have a question for accounting, you just walk into an office and ask. When you want to know where your shipment is, that is virtually impossible to determine that despite GPS tracking and carrier updates. The same is true for collaboration with supply chain partners. Will AI eventually live in all of our systems to run business processes? Absolutely. However, we first need to invent solutions that allow us to share data without the need for trust. #truckl #innovation

Shipsy launches AI-powered LIA to empower businesses Shipsy announced the launch of its AI co-pilot, LIA–Logistics Intelligent Assistant. LIA leverages predictive and prescriptive intelligence to empower businesses to build proactive logistics management strategies. Soham Chokshi, CEO and Co-Founder, Shipsy said, “Great customer experiences start with meticulous planning and execution. Step into the new era of logistics management with Shipsy’s AI co-pilot, LIA will empower logistics leaders to keep a firm step on the new era of logistics management by transitioning from reactive to proactive logistics management.” As per a recent report, AI is likely to increase the productivity of enterprises by 38-40 per cent by 2035. Delays in notifying the right stakeholder further prolong decision-making processes. All these ultimately impact customer experience and significantly increase the chances of SLA breaches. Source cargotalkgcc.com

🤝 Optimizing Purchase Order Creation in the P2P Process with AI 🌐 AI is revolutionizing the Purchase Order creation process in the P2P journey. AI is changing the game, enabling organizations to streamline operations, enhance efficiency, and drive greater accuracy. Let's explore five examples of how AI impacts PO creation: Intelligent Data Extraction: AI-powered systems can extract relevant information, such as item descriptions, quantities, and pricing, from various sources like emails, invoices, and contracts. This eliminates the need for manual data entry, reducing errors and saving valuable time. Automated Vendor Matching: AI algorithms can intelligently match suppliers with the appropriate POs, based on factors like pricing, delivery terms, and previous transaction history. This ensures that the right supplier is selected for each order, optimizing procurement decisions. Real-time Inventory Monitoring: AI-driven systems can integrate with inventory management software, constantly monitoring stock levels. When creating a PO, AI can automatically check inventory levels and suggest reorder quantities, preventing stockouts or excess inventory. Intelligent Approval Workflows: AI-powered software can analyze historical approval patterns and learn from them. This enables the system to automatically route POs to the appropriate approvers, reducing bottlenecks and accelerating the approval process. Predictive Analytics for Demand Planning: AI algorithms can analyze historical data, market trends, and external factors to predict future demand. By understanding demand patterns, organizations can create accurate POs, ensuring the right products are ordered at the right time. By leveraging AI in the PO creation process, organizations can unlock a myriad of benefits. Increased accuracy, reduced manual effort, and streamlined operations enable procurement teams to focus on strategic activities, supplier relationship management, and driving cost savings. Embracing AI empowers organizations to achieve operational excellence and stay ahead in an increasingly competitive market. 🚀 ✨ Unlock a new era of efficiency and effectiveness. #Technology #Automation #Future #Transformation #AI #ArtifcialIntelligence #Procurement #P2P