The AI in Business Podcast ROI for Manufacturing Procurement AI in Business Intelligence - with Sambit Dutta of Nestlé
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Dec 19, 2024 Sambit Dutta, Vice President of Digital Strategy at Nestlé US, dives into how digital transformation is revolutionizing procurement in the food and beverage industry. He details post-COVID supply chain resilience and the shift towards AI-driven efficiencies. Sambit highlights the importance of advanced risk assessment and the role of data governance in implementing AI technologies. Through insights into evolving supply chains and strategic decision-making, he underscores the need for a balanced approach to agility, costs, and sustainability in today's complex landscape.
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Evolving Procurement KPIs
- Procurement is now viewed as part of end-to-end supply chain management.
- Key parameters have shifted from service, cost, and quality to also include resiliency, agility, and sustainability.
Integrated Optimization Model
- An integrated model optimizes across cost, service, quality, resiliency, agility, and sustainability.
- Sustainability is now a key factor in procurement decisions, impacting cost and other parameters.
Autonomous Procurement
- The future of procurement is autonomous decision-making and supplier interaction.
- Generative AI can analyze market trends and provide insights, improving strategic sourcing and risk assessment.