Managing Costs During Disruptions: How AI and ML Give Unique Insights into Contracts with Suppliers


Date :June 16, 2020 01:00 pm EST
Presented By:



Uncover what actions you can take with contracted suppliers to reduce cost and risk during disruptive times

 

Negotiating the best deals with suppliers not only gives your business favorable terms for execution but can also save you significantly. However, it is often difficult to understand where external risks should play a role in negotiations and how to leverage existing supply chain data in spend calculations.

For procurement professionals, understanding and mitigating risks depend on your ability to look inside enterprise applications to understand upstream and downstream needs, plus how these change during black swan events.

AI and machine learning have become leading tools to assist in unlocking these insights, highlighting opportunities for supplier contracts to protect the business relationship and reduce spend. They can also identify potential threats and understanding for when either you or your supplier cannot meet contractual obligations.

Go beyond simple spend analysis by joining ElectrifAi’s Michael Fox and Roland Simon for an hour presentation in partnership with SIG on how applying AI to procurement data can yield insights specific to contracted suppliers.

In this webinar, you’ll learn:

  • How AI can address supplier fulfillment interruptions or default
  • When ML is useful in leveraging enterprise and supply chain application data
  • Methods for better managing supplier spend and allocation
  • Negotiation benefits unlocked by applying AI to existing contracts
  • Straightforward methodologies for making the most of supplier relationships
  • Where AI and ML enhance procurement decision-making

 

Register for this webinar