The Office for Artificial Intelligence (AI) has just published draft guidelines to streamline AI procurement in the public sector. The UK is the first country
Writing in Spend Matters, procurement aficionado Stefan Zorn notes that in today’s fast-paced global economy, businesses need to be able to respond swiftly to new market opportunities and competitive challenges that frequently emerge overnight.
Supply chain has become a cumbersome process. It can take days for payments to be finalised between manufacturer-supplier and customer-vendor.
New data from The Hackett Group reveals that while two-thirds of procurement leaders (twice the percentage recorded last year) have an implemented digital transformation strategy, the budgets they need to implement them may not be available. Procurement budgets are forecast “to remain virtually flat in 2018”.
Change is inevitable, but the rate at which change is implemented makes a difference. It is anticipated that in 2018, procurement professionals will have to accelerate their supply chain if they want their organisations to be competitive in today’s digital and globalised economy.
Swedish retailer Hennes & Mauritz (H&M) has attributed its latest dismal quarterly financial results to a combination of poor product placement in the second half of 2017, bad weather and the “Amazon Effect” (the rise of highly agile rival e-commerce strategies).