Traditionally, procurement analytics have focused on understanding past procurement spend and supplier performance, but increasingly the focus is shifting toward AI (Artificial Intelligence) and ML (Machine Learning) driven prescriptive decision-making. This reflects an evolution from “descriptive” analytics to “prescriptive” analytics. Understanding the impact of implementing prescriptive analytics is crucial to the success of any data initiative within a procurement organization. This session will allow a deep understanding around many aspects in the prescriptive analytics journey like leveraging analytics in category management, strategic sourcing, contract management, procure-to-pay, and performance measurement.

 

Contributors: ProcureAbility
Categories: 2022 Spring - Amelia Island, Summit Presentations
SRC Type: Disruptive Digitization