P&SC Transformation Forum at P&SC LIVE New York 2024
On 5 and 6 June, Procurement & Supply Chain LIVE hosted a virtual conference connecting leading industry executives based in the US and Canada: Procurement & Supply Chain LIVE New York.
Throughout the event, attendees heard unfiltered discussions featuring global business leaders, participated in interactive high-energy panels and networked with influential figures in the industry.
On day two, an engaging panel discussion focusing on the benefits of procurement transformation was staged, featuring:
- Thiago Braga, Senior Program Officer at Alberta Health Services
- Joshua Dubroff, Chief Procurement Officer at University System of New Hampshire
- Ken Bradley, Chief Strategy Officer at Lytica
Throughout the panel, the speakers focused on the transformative power of AI, effectively managing change and using data effectively to drive decision-making when altering procurement processes and supply chains.
Participants also highlighted how important digital transformation is to procurement and the supply chain, creating competitiveness, value and enhancing operations.
All eyes on AI
All three speakers had similar views about the incredible potential of AI, but advocated different approaches.
Joshua explored how innovative approaches can be accessed and traditional workflows challenged through new technologies such as AI, highlighting its ability to alter previous processes that have been used in the industry.
However, he explained the need for research into how businesses can effectively integrate this technology into their processes, emphasising the importance of exploring this technology in depth prior to application.
"With AI-driven solutions, we are not just automating tasks, but enhancing decision-making processes with better data and insights," he said.
Ken outlined the potential for processes to be accelerated and more work handled using automated solutions. He also explored how responsiveness in the workplace can be heightened through the use of AI and machine learning.
"You can't rely on manual effort to keep up with the complexity of today's procurement processes," he added. "AI is essential to managing the increasing considerations."
Thiago was in agreement on AI's immense power, but drew attention to associated risks such as cybersecurity and data privacy.
He emphasised the importance of closely monitoring these risks to ensure operations continue running smoothly.
Focusing on digital transformation
Throughout the discussion, panellists detailed the benefits of digital transformation and highlighted how important technology will become as procurement and supply chain continues to evolve.
Joshua explained how digital transformation will permit staff to participate in higher-value activities, enhance their skills and automate various processes, but highlighted how vital it is for transformation efforts to match the cost-saving, growth and efficiency goals of the business.
However, Ken's focus was on the need for the procurement function to embrace digital tools in order to maintain a competitive advantage.
He also emphasised the importance of quality data, adding that weak data often results in poor decisions.
"Survival in business today means embracing technology, including AI, to become more efficient, more responsive and, ultimately, more competitive," Ken continued.
Tiago went on to explore how risks can be managed and inventory levels can be improved by focusing on data visibility and accuracy across the supply chain.
He explained how data can be turned into actionable intelligence, allowing organisations to consistently improve, and highlighted the importance of simulation and modelling in procurement and supply chain transformation.
Tiago added: "We need to ensure data visibility and accuracy across the supply chain to manage risks, improve inventory levels and ensure business continuity."
All three speakers went on to agree that digital transformation can be unlocked through catalysing organisational change and adopting new technologies, allowing businesses to gain a competitive advantage.
Essential diary dates for 2024 and 2025…
Procurement & Supply Chain LIVE continues to expand its repertoire of events, with more to come in 2024 and 2025. Discover our essential diary dates below.
2024 diary dates:
- Manufacturing & Mobility LIVE | 6 November 2024
2025 diary dates:
- Procurement & Supply Chain LIVE Singapore | 11 February 2025
- Procurement & Supply Chain LIVE: Scope 3 | 5-6 March 2025
- Procurement & Supply Chain LIVE Dubai | 29 April 2025
- Procurement & Supply Chain LIVE Chicago | 4-5 June 2025
- Procurement & Supply Chain LIVE London | 23-24 September 2025
- Procurement & Supply Chain Awards | 24 September 2025
- Manufacturing & Mobility LIVE Chicago | 4 November 2025
Make sure you check out the latest edition of Procurement Magazine and also sign up to our global conference series - Procurement & Supply Chain 2025
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