How Artificial Intelligence Technology will Transform Procurement and Supply Chain Management

Michael Shin

Global Vice President of Procurement at FLIR Systems

Learning Objectives

Artificial Intelligence will revolutionize the technology world we live today personally and professionally. AI technology will reboot procurement to the next level where world-class procurement is expected and ubiquitous. Mike Shin Global VP of Procurement for FLIR Systems will address the next practical step in making the "CPO Digital Cockpit" a reality by 2022.

Key Takeaways:

  • The CPO Digital Cockpit is a Procurement Spend and Performance Dashboard on "steroids"

  • Commodity Strategic Sourcing will be digitized with sophisticated algorithms to "break" the spend code. The 7 step sourcing process will be automated to significantly improve speed, execution and results

  • The CPO Digital Cockpit is AI Technology Assisted Global Procurement Dashboards and Software algorithms to transform a rookie commodity leader to an advanced global commodity manager in matter of months as opposed to years. Recall how long and difficult to research history in 1970's going to multiple libraries as compared to researching history in 2020 with Google and other Apps. This is an appropriate analogy to illustrate the step functional improvement in making Procurement work easy as ordering products from Amazon