AI's impact on procurement in 2024 : SAP's Darcy MacClaren

AI setting new standards 

• Generative AI assistants will set new standards for responsiveness across the supply chain  

2024 will be the year where we witness the proliferation of generative AI-driven digital assistants across enterprise portfolios, transforming the way businesses run by allowing users to ask questions in plain language and receive quick, contextualised responses. For example, when companies have a full yard and don’t know which truck to unload, a worker can ask a generative AI assistant to read the manifest, understand it, and tell them which truck to unload first. These insights will lead to a plethora of improvements across the entire supply chain – from faster deliveries to reduced costs – setting new standards for global market responsiveness and competitiveness. 

A new backbone for supply chains 

• AI will become the backbone of risk-resilient supply chains 

In 2024, we will see a surge in supply chain technology investments, as businesses strive to improve visibility, agility, and risk resiliency in a dynamic and uncertain economic environment. Specifically, AI will take supply chain resiliency to the next level, enhancing organisations’ ability to sense, recognize, and react to disruptions and opportunities in new and exciting ways. The key to unlocking this level of resiliency hinges on connected data and collaboration across the enterprise. Business leaders must ensure AI is built-in, relevant, and responsible to achieve measurable business outcomes. As AI is integrated into every layer of the supply chain network, this transformative technology will unleash a new era of hyper-predictive and efficient logistics, revolutionising the way goods flow from factory floor to consumer hands.

Sustainable supply chains 

• Sustainable supply chains will become the norm, not the exception  

With mounting pressure from regulators, consumers, and investors, building sustainable supply chains, reducing carbon emissions, and bringing the circular economy to fruition will be table stakes for supply chain leaders in 2024. As a result, we will see increased investment in cutting edge technologies that provide leaders with the data and visibility needed to reduce environmental impact across the entire supply chain. Those who leverage technology to build truly eco-conscious supply chains will not only unlock new sources of innovation and revenue, but secure long-term profitability for years to come.

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Other magazines that may be of interest - Supply Chain Magazine | Sustainability Magazine

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