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Procurement and Supply Chain Management

Applying AI in Procurement and Supplier Selection

7 units

Please select a city/session before registration.

About this program

The processes of procurement and supplier selection have become increasingly intricate, involving substantial data volumes, varied markets, and heightened demands for transparency and sustainability. Artificial Intelligence (AI) equips procurement professionals with advanced tools to streamline sourcing activities, automate repetitive operations, and make more informed supplier decisions through data-driven insights.
This AI Applications in Procurement & Supplier Selection Training Course familiarizes participants with practical AI implementations in procurement, including supplier risk assessment, predictive analytics, contract evaluation, and automated negotiation processes. Utilizing case studies, live demonstrations, and simulations, attendees will learn how to incorporate AI technologies into procurement workflows to boost accuracy, efficiency, and value generation.
Upon completion, participants will be proficient in leveraging AI to enhance supplier selection, fortify supplier relationships, and drive excellence in procurement practices.

Course benefits

  • Acquire knowledge of AI-enabled procurement solutions.
  • Automate the processes of supplier evaluation and selection.
  • Enhance risk assessment capabilities through predictive analytics.
  • Improve decision-making using AI-derived insights.
  • Boost compliance, transparency, and supplier performance metrics.

Key outcomes

  • Describe AI applications relevant to procurement and sourcing.
  • Implement AI techniques for supplier identification and pre-qualification.
  • Utilize predictive analytics to assess supplier risk and performance.
  • Investigate AI-based contract and expenditure analysis.
  • Employ automation in negotiation and supplier onboarding procedures.
  • Incorporate AI within procurement governance structures.
  • Develop strategies for ethical and responsible AI utilization.

Who should attend

  • Professionals working in procurement and sourcing.
  • Managers responsible for supplier relationships.
  • Officers overseeing contracts and compliance.
  • Executives spearheading digital transformation initiatives in procurement.

Course outline

1

Unit 1: Fundamentals of AI Applications in Procurement

  • Introduction to AI and machine learning concepts.
  • The role of digital transformation in procurement processes.
  • Primary motivators for adopting AI technologies.
  • Examples and case studies showcasing AI in procurement.
2

Unit 2: Leveraging AI for Supplier Identification and Pre-Qualification

  • Utilizing AI for enhanced market intelligence gathering.
  • Automated pre-screening of potential suppliers.
  • Assessing supplier qualifications and certifications.
  • Technologies for comprehensive global supplier sourcing.
3

Unit 3: Utilizing AI in Managing Supplier Risk and Performance

  • Applying predictive analytics to identify supplier risks.
  • Real-time tracking of supplier performance metrics.
  • Compliance monitoring powered by AI tools.
  • Hands-on activity: developing and using risk scoring models.
4

Unit 4: AI-Enabled Contract and Expenditure Analysis

  • Employing natural language processing (NLP) for contract examination.
  • Identification of risks, critical clauses, and inconsistencies.
  • AI-assisted spend analysis to uncover savings opportunities.
  • Solutions for optimizing categories and expenditure.
5

Unit 5: AI-Driven Automation in Negotiation and Supplier Onboarding

  • Utilizing AI-based assistants for negotiation support.
  • Streamlining supplier onboarding through workflow automation.
  • Implementing chatbots and digital platforms for supplier interaction.
  • Case studies illustrating AI-enabled automation in practice.
6

Unit 6: Embedding AI within Procurement Governance Frameworks

  • Ensuring AI integration aligns with procurement policies and strategies.
  • Addressing ethical issues related to AI deployment.
  • Maintaining the balance between automation and human control.
  • Promoting transparency and accountability in AI use.
7

Unit 7: Emerging Trends and Future Perspectives of AI in Procurement

  • Exploring advanced AI technologies such as digital twins and autonomous sourcing.
  • The intersection of AI and sustainability initiatives in procurement.
  • Developing AI capabilities within procurement organizations.
  • Strategic planning for AI-based supplier selection processes.