2023 set to be the Year of Autonomous Sourcing, says Keelvar

According to a report by Keelvar, industry predictions reveal that manufacturing and procurement in 2023 is going to be defined by autonomous sourcing bots

A report by Keelvar, the AI supply chain company, recently revealed that global conflict and labour disputes will continue to disrupt the supply chain in 2023; that the availability of containers will continue to fluctuate, and that Inflation will erode purchasing power for buyers, while the market simultaneously grapples with the threat of deflation that will see the price of many goods plummet.

Once again, the predictions all call for precautions.

But there are things that procurement can do and systems that can be implemented to turn these challenges into opportunities, and the best procurement teams are already planning ahead.

Keelvar Senior Analyst, David Siedt says: “Tracking more supplier KPIs, such as on-time delivery and load acceptance percentages, then factoring them into award decisions, is just one of the ways sourcing professionals intend to deal with supply chain disruption."

Dylan Alperin, Head of Professional Services at Keelvar added: “Demand and supply curves change rapidly, and pricing is moving fast. As a result, I’m seeing sourcing teams leverage e-auctions to allow quick and easy negotiations on recurring items.”

2023 will be the year that sourcing professionals embrace automation.

The report says that to navigate unpredictable conditions; to bring more competition to deals; to keep sourcing teams happy - and to address rogue tactical spend - sourcing professionals are revamping processes.

The result of the survey find:

  • 73% will reduce time spent on repetitive, manual tasks
  • 45% will improve visibility for better market insights
  • 41% will dedicate more time for strategic initiatives
  • 40% will eliminate rogue spend
  • 32% will remove the risk of human error

The report calls sourcing professionals to get ready to embrace the power of autonomous sourcing bots.

There are big changes a-stir, and if you don't want to fall behind it's important that you implement the necessary changes in automation and technology that are now essential to success. 

Share

Featured Articles

How Intelligent Automation is Reshaping Manufacturing

John Woods, Managing Director at Alvarez & Marsal, shares with us how intelligent automation is shaking up the sector & helping manufacturing stay ahead

Inside RealWear's Strategic Adoption of Finance Technology

RealWear's strategic adoption of finance technology is revolutionising frontline safety in manufacturing. Tipalti's Kate Wilson tells us more

Optimising back-office operations with AI in manufacturing

Huron's Brad Anderson and David Taylor explore optimising back-office operations with AI and how this has become a new era for industrials & manufacturing

Panasonic Connect’s Autonomous Manufacturing Solutions

AI & Automation

AI Rockets to the Top of the Manufacturing Priority List

AI & Automation

Vaccine Manufacturing moves by Sanofi, Pfizer & AstraZeneca

Production & Operations