Definition
A document soliciting price quotes from vendors for a selected product or service.
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As traceability programs become a business requirement, the appropriate platform combining publicly available data and AI tools can enable companies to move beyond base-level traceability.
Earlier this year, Boeing’s Tiffany Andrews joined Fairmarkit’s Erin McFarlane on stage at the ISM World Conference to discuss how the aircraft giant has leaned into artificial intelligence to get better control of its tail spend and land its…
Boeing faced unknown spending, but a pilot program using Fairmarkit’s artificial intelligence platform helped bring its procurement spending into the light.
Chatbots are the choice many make when implementing large language models, but for supply chains, there are better alternatives that provide more immediate value.
With apologies to Bob Dylan, the next two to five years will see a shift to asset-driven companies.
What is needed is a systemic approach that reviews policy and governance, business management and global trade with fresh eyes to evaluate what should be kept and what can be built upon further or even changed completely.
The proliferation of digital supply chain management solutions has put even more pressure on global supply chain managers to set up freight transportation networks in regions that many may have never even visited. In turn, today's freight…
For years, procurement was boxed into a corner. Its function was limited to negotiating with suppliers to get a better price. Even today, much of procurement is about leveraging an organization's scale to obtain quantity discounts. At the…