What’s the impact of artificial intelligence on procurement?



Artificial intelligence (AI) is transforming supply chain procurement by enabling data-driven decision-making and improving efficiency. AI tools like AIMDRIVE-AI (https://aimdrive.com/), provide cost analysis through Bill of Materials (BOM) and Should Cost Models, helping businesses understand the true cost structure of products and services. Additionally, AI facilitates price analysis by comparing supplier quotes with market benchmarks, ensuring competitive pricing. By automating these processes, AI reduces manual effort, enhances accuracy, and uncovers cost-saving opportunities, making procurement more strategic and impactful.

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