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Why AI isn’t ready to replace humans in third-party risk management

Artificial intelligence is transforming supplier and third-party risk, but experts warn that human judgment, business context, and strategic oversight remain essential. Key takeaways AI augments risk, not ownership. Supplier-risk intelligence is shifting from detection to prediction. Human context still drives third-party risk decisions. Strategic leadership defines successful risk programs.

#bussiness #Category_Management #CIPS_Procurement_and_Supply_Chain_Topics #Home #leadership #learning #Management #positive #Procurement #Project #Purchasing #Strategic sourcing #Supply Chain

Strategy or Self expression

Strategy means only saying things that get you closer to changing the person’s behavior. You should only say things that you strongly believe will incentivize the other person to change in the right direction. Strategy is probably 10% of what you initially want to say. Self-expression is venting, having the last word, or trying to teach someone a lesson. It’s trying to prove you are right or…

#bussiness #CIPS_Procurement_and_Supply_Chain_Topics #leadership #Procurement #Purchasing #Strategic sourcing #Supply Chain

ESG in Procurement

ESG in procurement is the consideration of Environmental, Social, and Governance factors when making purchasing decisions. Basically, it is a set of guidelines or principles that assist businesses in assessing their sustainability and impact, particularly with regard to their procurement and sourcing practices.Sustainable procurement involves integrating Environmental, Social, and Governance…

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#CIPS_Procurement_and_Supply_Chain_Topics #Contract #Enviroment #ESG #Governance #Inventory #Management #negotiation #Procurement #Purchasing #social #Strategic sourcing #strategy #Supply Chain #sustainability

AI in Procurement: Transforming Spend Management

AI is shifting procurement from cost control to strategic foresight. Embedded into spend platforms, it powers supplier risk analysis, contract automation, predictive forecasting, and conversational bots. The result: improved efficiency, transparency, and proactive decision-making that positions procurement as a driver of business value.

#AI #artificial intelligence #CIPS_Procurement_and_Supply_Chain_Topics #Cost #Forecasting #leadership #Management #Procurement #Purchasing #Strategic sourcing #Supply Chain #transformation

AL & Supply Chain

Artificial intelligence continues to influence the dynamics of procurement, significantly impacting how organisations navigate supply chains.For those in the supply chain industry, harnessing AI in conjunction with human intelligence is paramount.As AI enhances analytical capabilities, maintaining human oversight ensures accountability, prevents compliance issues and mitigates risks related to…

#CIPS_Procurement_and_Supply_Chain_Topics #Management #Procurement #Supply Chain

PROCUREMENT AFTER PANDEMIC

After the pandemic, procurement has an unprecedented opportunity to cement its new strategic role and define its own destiny. Here are 10 best practices which will help you on the journey to smarter, better procurement. 1. DIGITISE SPEND MANAGEMENT TO DRIVE ADOPTION 2. AUTOMATE ACCOUNTS PAYABLE 3. DIGITISE END-TO-END BY INCLUDING SUPPLIER MANAGEMENT AND PAYMENTS 4. LOOK HARD AT…

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Procurement 4th stage called Achieving a competitive advantage through business innovation

Many CPOs aim to reach Stage 4 but fail to recognise the challenges they face. For a start, the technological maturity of the organisation – and the function – will vary. Some businesses are still extracting data manually from emails and spreadsheets. Others have embarked on digital transformation, with varying degrees of success. A few have begun automating the back office.Yet too often,…

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#Total_Cost_of_Ownership #CIPS_Procurement_and_Supply_Chain_Topics #Contract #Cost #Forecasting #Home #leadership #Management #negotiation #Procurement #Purchasing #Strategic sourcing #Supply Chain

Use an e-Procurement software

Getting your hands on digital procurement software is one of the quickest ways to boost efficiency and success. Using an obsolete procurement system negatively influences employee productivity, as well as the organization’s bottom line. An automated purchasing system, on the other hand, allows procurement teams complete control and visibility into the purchase order cycle. This form of automation…

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#Total_Cost_of_Ownership #ariba #CIPS_Procurement_and_Supply_Chain_Topics #learning #microsoft #Procurement #Purchasing #SAP #sap ariba #SRM #Supply Chain #Tender process

5 tips to improve your procurement process efficiency

If you are a procurement professional, then one of the major challenges that youwould be facing today is process inefficiency. With the increasing competitionand the ever-changing global climate, the need to be efficient is more importantnow than ever. Sure, an improvement in process efficiency also has its host ofbenefits – increased cost savings, reduced turnaround times, and better…

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#Contract #Cost #Management #Procurement #Strategic sourcing #Supply Chain

Procurement in 4 Stages…

As complex as procurement is, Coupa believes it can usefully be categorised into four stages: STAGE 1 Tactical and operational At this stage of maturity, procurement is primarily concerned with ordering and invoice processes. STAGE 2 Efficient sourcing The introduction of strategic sourcing, contract management and supplier management deliver significant savings across the…

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#jhelum pakistan islamabad karachi lahore murree stars rawalpindi quarantine quarantinelife corona life lifeisgood reality nat #P2P_Cycle Procurement_and_Supply_Chain_In sights #Total_Cost_of_Ownership #category managment #Category_Management #CIPS_Procurement_and_Supply_Chain_Topics #Contract #Forecasting #Management #negotiation #Procurement #Purchasing #Strategic sourcing #Supply Chain #Tender process

Procurement Professionals should read this…..

In essence, a procurement personnals needs to be able to answer five fundamental questions:• How big is the spend?• What am I buying?• Do I have full visibility and control over everything that I am buying?• What are our contracts – and when do they expire?• Who are my stakeholders – and what outcomes do they want?Answering such questions will help Procurement personnals realistically assess…

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#jhelum pakistan islamabad karachi lahore murree stars rawalpindi quarantine quarantinelife corona life lifeisgood reality nat #P2P_Cycle Procurement_and_Supply_Chain_In sights #Total_Cost_of_Ownership #Category_Management #CIPS_Procurement_and_Supply_Chain_Topics #Contract #leadership #Management #Procurement #Purchasing #Strategic sourcing #Supply Chain

Procurement functions in Pandemic

At the height of the pandemic, many procurement functions were working around the clock to source mission critical materials, products and services. “Knowing where your materials were was the question that every procurement professional needed to be able to answer,” says Nico Bac, formersenior director of procurement at Procter& Gamble. “Technology was the solutionbut, in many instances, there…

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#jhelum pakistan islamabad karachi lahore murree stars rawalpindi quarantine quarantinelife corona life lifeisgood reality nat #P2P_Cycle Procurement_and_Supply_Chain_In sights #Total_Cost_of_Ownership #CIPS_Procurement_and_Supply_Chain_Topics #Procurement #Purchasing #Supply Chain

Procurement & Pandemic

“Procurement was evolving into a more strategic role before the pandemic but, after helping organisations survive the crisis, the function has more credit and more attention from executives than it has ever had,” says Michael van Keulen, CPO of Coupa, a leading global technology platform for business spend management. “Everyone’s eyes were on procurement. Stakeholders who didn’t really know what…

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#jhelum pakistan islamabad karachi lahore murree stars rawalpindi quarantine quarantinelife corona life lifeisgood reality nat #P2P_Cycle Procurement_and_Supply_Chain_In sights #Total_Cost_of_Ownership #CIPS_Procurement_and_Supply_Chain_Topics #COVID-19 #Forecasting #learning #lesson #logistic #Management #Procurement #Purchasing #SAP #Strategic sourcing #Supply Chain #work

Value based procurements

Solid relationship building skills will go a long way when looking to set up value-based procurements and improve the bottom line of the company. thats what i have to use my skills, experience & abilities to make Company achieve the goals & targets

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#Total_Cost_of_Ownership #Category_Management #CIPS_Procurement_and_Supply_Chain_Topics #Contract #Cost #Management #Procurement #Supply Chain

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