Tue.Apr 02, 2024

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CPO Crunch: Why do you do what you do?

Procurement Leaders

An exercise we’ve carried out on a few occasions over the years at Procurement Leaders has been to ask chief procurement officers to share the value propositions they have in place for their function. It’s useful because it forces extremely busy people to take a step back and think deeply about why they do what they do. What are the ultimate goals of those negotiations with suppliers?

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Meet AI in Vendor Management Systems

Spend Matters

Over the last several years, a mix of traditional and generative AI (GenAI) have made their way into vendor management solutions and changed how contingent labor and service workers are engaged and managed. This started with the adoption of traditional AI, which is now common to almost every VMS tool that enters the market. GenAI has more recently begun to appear in newer VMS tools through large language Models (LLMs), providing the creation of outputs not seen with traditional AI.

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Trending Sources

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Panama Canal Will Need Rest of Year to Recover From Drought

Supply Chain Brain

La Niña is expected to usher in ample rains in a matter of weeks, providing relief after record dryness afflicted the key transit channel in 2023.

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Pandion plans to expand e-commerce delivery network

Supply Chain Dive

The company is interested in reaching new markets like Denver and Minneapolis after landing $41.5 million in funding.

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Load Optimization: A Sustainable Way To Reduce Transportation Costs

Discover strategies to optimize load building and achieve significant transportation cost savings. Plus, learn how load optimization can help reduce CO 2 emissions and align with climate regulations and consumer expectations. Finally, discover best practices for sustainable load optimization.

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Finding Calm in the Chaos: How 3PLs Can Navigate Today’s Unruly Supply Chain

Supply Chain Brain

Brands, carriers, and third-party logistics providers are rapidly adapting their operations to address a chaotic shipping landscape and skyrocketing customer demands.

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Big Lots opens buying offices in China, Vietnam

Supply Chain Dive

The retailer said the initiative will create a stronger platform for overseas procurement and generate significant operational cost savings.

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GXO signs on Dexterity, explores AI applications

Supply Chain Dive

The warehouse logistics provider is piloting solutions for productivity and workforce management.

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Secondary Route Lets Small Vessels into Baltimore Port for First Time Since Bridge Collapse

Supply Chain Brain

A majority of the vessels permitted in the secondary channel will be ones helping with cleanup efforts for the collapsed Baltimore bridge.

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Burlington to open its biggest distribution center

Supply Chain Dive

The automated facility is part of a larger push to increase productivity.

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Watch: Threats and Concerns for Global Shipping in 2024 and Beyond

Supply Chain Brain

Lee Smith, global trade attorney at Baker Donelson, reviews the top economic, regulatory and geopolitical concerns of supply chain executives for the coming year.

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Autonomous AI Agents Are the Future of Procurement and Supply Chain Operations

As early as next year, procurement and supply chain operations will begin to adopt AI agents, often called “agentic AI,” to work alongside employees to make and execute decisions with precision across procurement and even the most complex global supply chains. Unlike LLM-based generative AI tools such as ChatGPT, these AI agents do not require prompts from humans.

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Real-World Supply Chain Robotics

The Network Effect

The post Real-World Supply Chain Robotics appeared first on The Network Effect.

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Manufacturing Delay Leads to Temporary Shortage for Pair of Eli Lily Insulin Offerings

Supply Chain Brain

The two insulin drugs will be temporarily out of stock through the beginning of April, according to Eli Lilly.

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The winning combination for real-time insights: Messaging and event-driven architecture

IBM Supply Chain Blog

In today’s fast-paced digital economy, businesses are fighting to stay ahead and devise new ways to streamline operations, enhance responsiveness and work with real-time insights. We are now in an era defined by being proactive, rather than reactive. In order to stay ahead, businesses need to enable proactive decision making—and this stems from building an IT infrastructure that provides the foundation for the availability of real-time data.

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Procurement 2024: BIG Trends and Predictions

Arkestro

Resources / Analyst Reports / Procurement 2024: BIG Trends and Predictions Procurement 2024: BIG Trends and Predictions Download Now Let's Talk By the end of 2024, new AI innovations will begin to significantly change all facets of supply management technology. Summary This report provides a comprehensive overview of the challenges and opportunities procurement teams are expected to face in 2024.

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Freight Procurement Simplified: Bids from Hours to Minutes

Speaker: Eric Berdinis, Ran Sun, & Chris Chmielewski

Procuring freight can be cumbersome, time-consuming, and error-prone. If you’re frustrated with the complex and manual processes for obtaining bids for your contract and spot freight, you’re not alone. In today’s fast-moving supply chain environment, optimizing these processes is critical to staying competitive and cutting costs. Join this exclusive webinar with experts from Uber Freight to learn how the latest digital tools and automation can transform your freight procurement strategy by strea

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Digital Procurement Tools: How much do they cost?

Procurement Software

We’d all like the latest digital procurement tools. But often, those who aren’t familiar with the procurement software market mistakenly overestimate the cost. The reality is that procurement tech doesn’t have to be expensive. You don’t need a 6-figure software budget or a large sum to hire consultants for implementation. There’s plenty of digital procurement solutions out there for every budget.

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Will AI-powered procurement tools make our roles irrelevant?

The Procuretech Podcast

In this episode of The Procurement Software Podcast, host James Meads delves into the topic of whether AI could make procurement as a profession irrelevant. The discussion highlights the significance of embracing generative AI, despite privacy and confidentiality concerns. Tune in to stay ahead of the curve in the ever-evolving world of procurement technology.

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Ships With 240 Tons of Aid Turned Back From Gaza After Airstrike Kills 7 Workers

Supply Chain Brain

The charity announced that it would be suspending its delivery of food aid on April 2, all while experts warn that famine is imminent in northern Gaza.

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