Track: Artificial Intelligence
Although artificial intelligence (AI) has been reluctant to gain attraction in the procurement segment of a company, many organizations have started to see its potential in the supply chain activities since it enables numerous sectors in the evolution of their business models. AI refers to intelligent algorithms or apparatuses that are capable of autonomously and systematically performing activities or cognitions without human intervention or mental decisions. In procurement and supply chain applications, AI can enhance design and operational frameworks, data visibility and analytics, opportunity assessment, accurate report generation and contract management, etc. This paper presents opportunities and applications of AI in procurement with particular emphasis on the procurement process carried out by Qatar Foundation (QF). QF is a non-profit organization which has a unique system as it involves over 50 entities with different activities related to education, research, and community development. This one-of-a-kind ecosystem comprises a unique and complex supply chain model. As a result, procuring different materials and services to cope with all entities’ requirement is a challenge due to the tremendous amount of data and purchases. The use of AI methodologies is anticipated to provide multiple benefits towards achieving improvements over diverse areas.
Artificial Intelligence, Procurement, Qatar Foundation.