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Why You Should be using AI for Demand Planning and what the process is.
As the name suggests, AI-powered demand planning is the process of incorporating machine learning, artificial neural networks and insights from past demand data to forecast future demand.
Traditional demand planning primarily relies on forecasted sales by product and region, coupled with inventory projections to create a demand forecast that denotes the expected quantity of goods to be bought or sold. AI-powered demand planning, on the other hand, uses historical data to create a predictive model that not only forecasts demand, but identifies any potential issues within the supply chain that might result in future supply chain issues.
CIPS UK Salary Guide - Download Here
The 2023 CIPS Procurement Salary Guide is now available to download here for free.
Thanks to CIPS and Hays for pulling this together again. In this guide the Procurement Profession is reviewed and many trends in to 2023/24 are explored.
One key takeaway is the continued use of Interims and Consultants to fill resource gaps or to undertake project work. These interims typically come with 9 years experience in Procurement. At Keystone Procurement Solutions we have an average of over 20 years experience, so if you have a resource gap or some project work to undertake please get in touch as see if we can help.
Creating a Procurement Strategy
The most important element of a procurement strategy is that it exists. The key takeaway from our guide to creating your procurement strategy.
To maximise its value contribution all Procurement teams should have a strategy aligned to the wider corporate goals.
Review our helpful guide and get in touch for a free Procurement Strategy Appraisal.
How procurement can deliver quality of earnings in a world where price pressure is only upwards
With boardrooms, having realised the value of Procurement during previous turbulent times they look again to Procurement Team’s to continue to deliver value benefits.
So again Procurement team are having to redouble their efforts and think creatively to finding ways of curbing inflationary pressures
Procurement Strategy Made Simple
Often in business as well as life it is the simple things that are the most effective. Creating your Procurement Strategy doesn't have to be complicated, especially if you follow our simple guide to creating your Procurement Strategy.
Review our helpful guide and get in touch for a free Procurement Strategy Appraisal.
Procurement in 3D - Data Driven Decisions
We live in a data lead world these days, with ever increasing amounts of Business Intelligence available to us. But at Keystone Procurement Solutions have always said there can only be one version of the truth.
There are ever more priority areas for Procurement teams to delivery these days from ESG Management, Supply Chain Risk, Best Value Sourcing, Cash Flow Maximisation to the Good old Cost Savings. Despite all of these there in almost all cases Procurement teams continue to be judged first and foremost on cost reductions.
Review our helpful guide and get in touch for a free Procurement Strategy Appraisal.
5 Step Health Check
“Desires remain only desires until a strategy is made to turn them into reality.”
To maximise its value contribution all Procurement teams should have a strategy aligned to the wider corporate goals.
This strategy should be the map used to plan the journey and destination of the team and should be revised at least 6 monthly alongside the overall corporate strategy.
Here we explore 5 simple steps to making your strategy a reality.
