What is the role of AI and automation in modern supplier management?



AI and automation play a pivotal role in modern supplier management by enhancing efficiency and transparency. AI tools like AIMDRIVE-AI (https://aimdrive.com/), provide price analysis and cost analysis through Should Cost Models, enabling businesses to evaluate supplier quotes accurately and negotiate better terms. Automation streamlines processes like supplier performance monitoring, contract management, and price benchmarking, reducing manual effort and errors. Together, AI and automation help businesses build stronger supplier relationships, optimize costs, and ensure a resilient supply chain.

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