**London**: Experts will discuss the benefits of an AI-driven predictive procurement approach in a forthcoming webinar, focusing on enhancing supplier negotiations and unlocking savings amid economic challenges. Participants can gain insights into effective strategies for managing supplier relationships and optimising procurement processes.
In an era marked by economic volatility, procurement teams are encountering an array of challenges, including rising tariffs, fluctuating costs, and uncertainties within supply chains. In response to these dynamics, experts advocate for an AI-driven approach to supplier negotiations. This methodology is designed to unlock hidden savings, provide value beyond mere pricing, and enhance the selection process of suppliers.
The Arkestro Blog highlights a forthcoming webinar that aims to address these pressing issues. Participants will include industry professionals and an Arkestro customer, delving into the concept of predictive procurement. This approach promises to accelerate the transformation of spending practices by enhancing savings, improving negotiations with suppliers, and reducing associated risks.
The webinar will focus on several key supply categories, including Maintenance, Repair and Operations (MRO), Capital, Bill of Materials, and Logistics. It will showcase how predictive technology can optimise various aspects of procurement such as Spot Buy, Strategic Sourcing, and Category Management.
The discussions will cover significant points regarding how Predictive Procurement can support an Enterprise Tariff Strategy. Notably, top procurement teams are reported to achieve average savings of 18.8% for every $1 million spent through the implementation of Arkestro’s strategies. Furthermore, the conversation will touch on effective methods for managing cross-border supplier relationships, which pose unique challenges in the current economic landscape.
Comparative analyses of AI-driven Spend Transformation and broader Digital Transformation initiatives will also be a focal point during the event.
The webinar poses an opportunity for procurement professionals to gather insights on tackling current market challenges and to drive rapid value amid ongoing uncertainties. Interested parties are encouraged to register to participate in this informative session.
Source: Noah Wire Services
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