Exploring the role of Artificial Intelligence (AI) in Procurement to enhance efficiency

Arounsavath, Ms Silivanh (2024) Exploring the role of Artificial Intelligence (AI) in Procurement to enhance efficiency. BA/BSc, Lámfalussy Sándor Közgazdaságtudományi Kar (volt Közgazdaságtudományi Kar).

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Absztrakt (kivonat)

The world is changing. Every business seeks to integrate digital technology like Artificial Intelligence (AI) into their business strategies to improve business efficiency. One area of focus is procurement, as this function plays a crucial role in business strategies with the power to significantly improve the profitability of the business. However, procurement is a complex function that involves a vast amount of data. The traditional procurement method can be time-consuming, leading cause of inefficiencies in driving high-quality procurement performance. Therefore, new technologies like Artificial Intelligence (AI) can come to the forefront to benefit procurement as it is known as the automation of tasks, processes, or decisions. The purpose of this study is to explore how Artificial Intelligence (AI) technologies can enhance procurement efficiency. This study aims to give specific real-world examples of AI applications that can lead to greater efficiency in the case study of Schneider Electric company, a global leader in energy management actively implementing AI tools in their procurement processes. By examining their approach, the researcher can gain valuable insights into how AI can be effectively integrated into procurement practices. This study employs a mixed research method, combining both qualitative and quantitative approaches. This allows for comprehensive understanding of the topic by creating a case study, and an interview with the procurement experts in Schneider Electric and presenting the statical data from other leading companies that successfully implemented AI. By comparing and analyzing data from both the Schneider Electric case study and secondary sources, the study aims to identify the key areas where AI can significantly enhance procurement efficiency and draw conclusions about the potential benefits of AI adoption in procurement. The results showed that AI generates a positive impact on the company through enhanced efficiency and sustainability, as well as improved decision-making. Schneider Electric recognized this potential and initiated the plan to integrate AI into the procurement process. Procurement experts highlight that AI's core function is to analyse vast amounts of data, empowering procurement professionals to make better choices in four key areas including need analysis, market analysis, supplier selection, and supplier performance management. As a result, AI has potential to enhance procurement efficiency, especially to generate, collect, and analyze the data, to support the decision-making process. With the higher expected number of users in AI, procurement can achieve efficiency with faster transactions and lower costs.

Angol cím

Exploring the role of Artificial Intelligence (AI) in Procurement to enhance efficiency

Intézmény

Soproni Egyetem

Kar

Lámfalussy Sándor Közgazdaságtudományi Kar (volt Közgazdaságtudományi Kar)

Tanszékcsoport/intézet

LKK - Közgazdasági és Nemzetközi Kapcsolatok Intézet

Szak

LKK - Nemzetközi gazdálkodás alapszak angol nyelven (BA)

Témavezető(k)

Helyi kari azonosító

KBAN-24/19

Mű típusa:	Diplomadolgozat (BA/BSc)
Felhasználói azonosító szám (ID):	Silivanh Arounsavath
Dátum:	22 Júl 2024 12:21
Utolsó módosítás:	22 Júl 2024 12:21
URI:	http://diploma.uni-sopron.hu/id/eprint/13092

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