Agentic artificial intelligence (AI) is transforming procurement by addressing challenges, optimizing workflows, and enhancing data-driven decision-making. As supply chains grow complex, agentic AI allows for autonomy beyond mere automation, using dynamic data and feedback loops to adapt operations effectively. Sonali Bhavsar from GEP emphasizes that high-quality data governance is essential for successful AI integration, ensuring robust supplier vetting with minimal manual intervention.
The technology enables proactive risk management, allowing companies to identify compliance breaches and performance issues in real-time, significantly improving oversight across diverse regulatory environments. Organizations employing agentic AI report enhanced supplier negotiations, contract compliance, and cost-saving opportunities while maintaining human oversight on critical decisions.
To harness agentic AI’s full potential, procurement leaders must understand their capabilities, collaborate with key stakeholders, and prioritize data quality. By evolving processes with agentic AI, organizations can achieve improved agility, transparency, and competitiveness in the rapidly changing procurement landscape.
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