Generative AI is unlike any technology that has come before. It’s swiftly disrupting business and society, forcing leaders to rethink their assumptions, plans, and strategies in real time.
To help CEOs stay on top of the fast-shifting changes, the IBM Institute for Business Value (IBM IBV) is releasing a series of targeted, research-backed guides to generative AI on topics from data security to tech investment strategy to customer experience.
Procurement leaders feed an insatiable appetite. From product components to transportation services to commercial property, they manage the deals that make the business world go round. But no matter how much they buy, their work is never done. The business always wants more.
The demands are getting more intense. As expectations rise, budgets shrink, and complexity grows, procurement teams are feeling the pressure. But generative AI can offer some much-needed release.
For instance, generative AI can support strategic sourcing and negotiating by identifying patterns in market data then quickly uncovering opportunities to aggregate purchases or dramatically cut costs that employees might miss in the rush to meet daily deadlines. And by automating transactional tasks, such as payment processing and requisition management, generative AI frees up procurement teams to focus on more strategic work that boosts the bottom line.
Generative AI-powered tools also help procurement teams prepare for a future characterised by uncertainty. It can simulate different scenarios, predict outcomes, and suggest ways to optimise procurement strategies—giving teams the confidence they need to innovate through volatility, form strategic partnerships, and inform new product development based on real-world intel.
With the right data foundation, generative AI opens new avenues for CEOs to improve profit margin and cash flow—and strengthen alliances to help their organisations navigate disruption whenever and wherever it appears. But only if procurement teams lean into innovation using generative AI.
Generative AI is unlike any technology that has come before. It’s swiftly disrupting business and society, forcing leaders to rethink their assumptions, plans, and strategies in real time.
To help CEOs stay on top of the fast-shifting changes, the IBM Institute for Business Value (IBM IBV) is releasing a series of targeted, research-backed guides to generative AI on topics from data security to tech investment strategy to customer experience.
Procurement leaders feed an insatiable appetite. From product components to transportation services to commercial property, they manage the deals that make the business world go round. But no matter how much they buy, their work is never done. The business always wants more.
The demands are getting more intense. As expectations rise, budgets shrink, and complexity grows, procurement teams are feeling the pressure. But generative AI can offer some much-needed release.
For instance, generative AI can support strategic sourcing and negotiating by identifying patterns in market data then quickly uncovering opportunities to aggregate purchases or dramatically cut costs that employees might miss in the rush to meet daily deadlines. And by automating transactional tasks, such as payment processing and requisition management, generative AI frees up procurement teams to focus on more strategic work that boosts the bottom line.
Generative AI-powered tools also help procurement teams prepare for a future characterised by uncertainty. It can simulate different scenarios, predict outcomes, and suggest ways to optimise procurement strategies—giving teams the confidence they need to innovate through volatility, form strategic partnerships, and inform new product development based on real-world intel.
With the right data foundation, generative AI opens new avenues for CEOs to improve profit margin and cash flow—and strengthen alliances to help their organisations navigate disruption whenever and wherever it appears. But only if procurement teams lean into innovation using generative AI.
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