Hello everyone. I Amani. I'm a senior data scientist. It is a pleasure to, be here today to discuss how a transforming procurement and supply chains procurement is no longer just about sourcing supplies. And managing contracts. it has evolved into a strategic function that drives efficiency, cost savings, and risk management here is playing a major role in automating, processes, analyzing data at scale and improving decision making. The goal of this. How AI improves efficiency and cost optimization in procurement, real world AI applications, supplier selection, contract management, and demand forecasting. These are the real world applications, challenges, companies face in AI adoption and how to navigate them and the future of air power procurement and next steps for businesses. By end of this talk, you understand. Why AI is not just an option, it is a necessity for procurement teams looking. Stay ahead. procurement has traditionally been manual, slow, and reactive. AI is changing that by making a procurement faster, more s and cost effective. let us see what efficiency gains we get. AI powered automation is eliminating repetitive. Time consuming tasks from purchase order processing to supplier evaluations. studies show that AI can reduce procurement processing times by 37%, allowing teams to focus on high value decision making. Cost savings. procurement is not just about spending, it is about spending wisely. AI power spend. Analytics help businesses identify hidden efficiencies, inefficiencies, negotiate, Better contracts and optimized costs, leading to year 15 to 20% reductions in procurement expenses. In short, AI's shifting procurement from operational function to a value driver. in the real world Impact, let us see how AA is, impacting the real world. traditionally, supplier selection was based on a relationships, historical performance and manual research. Yay. Enhance, enhances this by analyzing. Market trends and historical performance. AI powered supplier selection has increased accuracy by 42%, helping procurement teams reduce risks and negotiate better deals. when it comes to contracts management, procurement teams handle hundreds of contracts making manual contract review a bottleneck. AI solves this by automating contract review and highlighting the risk areas in the contract, reducing the processing time by 60% through AI powered analysis. Enduring compliance and faster approvals leading to shorter procurement cycles. and now let's look into demand forecasting. Poor demand forecasting leads to, lower purchasing are stockouts, yet even forecasting models, analyze, sale, trends, supplier performance. And external factors will increase accuracy from 70% to 95%. These enables procurement teams to reduce excessive inventory, improve supplier coordination, and minimize procurement delays. Now let us look at the challenges, in AI implementation. Mostly like a data privacy. Here I relies on massive amount of procurement data, which raises, security and compliance risks. So organizations must ensure, regulatory compliances like G-D-P-R-C-C-P-A-E-T-C, also protect supplier. And financial data from cyber threats, build trust with the stakeholders by implementing transparent AI models. 78% of the organizations site, data security concerns as a barrier to AI adaption. Addressing these issues is a critical for successful AI implementation, legacy system integration. most companies use waler ERP procurement systems, AI integration requirements, middleware solution to connect the world and new systems phased adoption plans to summarize, disruptions flexible architecture to enable AI driven procurement with 65 Center of Enterprises are struggling with AI integration work on these challenges. Overcoming these challenges is a key, mostly with, they can overcome by going on instead of, rollout. Now let us see how ai, I, powers the contracts, like the smart contracts. one of the most exciting innovation in procurement is AI powered smart contracts. These contracts use, black could use blackchain and AI driven validations to automate, contract execution. why do smart contractors matter? like for a fraud prevention, AI detects irregularities and, prevents manipulation. smart contracts automatically enforce, terms and ensure that, company policies, these contracts are adhere to the company's policies. and also the faster processing here reduces contract validation time by 85%. Teams to focus on negotiations and sourcing bottleneck, and. Now let us see how AI helps in manufacturing, AI manufacturing procurement by predicting maintenance needs and avoiding supply chain disruptions. Optimizing production plan with AI driven demand analysis. And to reduce the delay delays, automating supplier coordination, we can use the. In the retail sector, the procurement faces inventory management and demand challenges. Here it can help here by enhancing demand forecast for, better, stock control. Automating inventory replenishments based on the real time data, personalizing supplier strategies to. and now let us see how the, AI in procurement can help technology companies, in this, tech industry. AI streamlines, the vendor selection, optimizing it, procurement, helping businesses to automate, contract analysis for software and cloud services. Analyze, complex service segments to optimize, spending. Now, let's see how AI helps in, sustainability. AI helps organizations reduce this carbon footprint by optimizing supply selection for sustainability, reducing waste through predictive analytics, minimizing logistics emissions, leading to a 28% reduction in carbon. Now in the risk mitigation, AI powered early warning systems. Like the risk management softwares detect, supply chain risks with 85% accuracy. This helps businesses proactively mitigate risks before disruptions occur, and hence supplier reli, reliances and maintain, operations. Now the AI driving strategies for procurement, like beyond automation, AI is transforming strategic procurement in three key ways, data driven decisions. Here turns the raw procurement data into actionable insights. Enable better forecasting and supplier selection, and in supplier relationship management. Yeah, answers suppliers, tracking predictor risk assessments and engagement strategies. S sourcing, yeah, helps in procurement teams to optimize strategies, reduce costs, and improve supply chain resilience. With procurement with ai, the procurement is no longer just about transactions. It is about strategy, intelligence, and long term value creation. In the future of AI power procurement, AI adaption will continue to expand, but businesses must focus on maximizing the cost savings. AI driven procurement saves, 3.58 millions annually for small and medium enterprises. Enhancing data security. 78% of businesses demand stronger AI governance. 65% of enterprises struggle with adoption, requiring, structured implementation plans. Instead of just buying the off the shelf software under straightaway using it, they should have, structured, implementation plans now. To summarize what we had discussed so far, like AI is optimizing optimizes procurement with efficiency, cost reduction, and importantly risk management, AI powered supplier selections, contract automation, and forecasting Our. Game changer actually. Yeah. Overcoming challenges like data privacy and system integration is crucial. We also discussed about AI driven smart contracts and predictive analytics will define the future of the procurement companies that adopt ai. Now we'll lead the next era for strategy procurement. Thank you all for time today. AI reshaping procurement in. We have just a few and the pace innovation is only accelerating. If you would like to continue the conversation, feel free to reach out to me on LinkedIn. I would be happy to discuss AI power procurement strategies and how businesses can leverage this innovation for compared advantages. You can connect with me on my LinkedIn. I appreciate your time and.