Blog
Want Better Procurement Outcomes? Apply Game Theory
Even if you’ve never heard of game theory, if you’ve played a board game that requires strategic thinking, trades, or payoffs, you’ve undoubtedly used it before. For example, in chess, you’ve most likely sacrificed lesser valuable pieces like pawns in exchange for...
Debunking 5 Common Myths About Predictive Procurement Orchestration
Just in Time Supply Chain Management: Lessons from the Automotive Industry
Understanding the Just in Time (JIT) Supply Chain Strategy In today's fast-paced business environment, companies are constantly seeking ways to streamline their operations, reduce costs, and enhance efficiency. One method that has gained popularity in recent years is...
Oil and Gas Supply Chain Procurement Innovation at Scale with Arkestro
For the oil and gas industry, the last few years have been anything but easy. Although the market has largely rebounded from the COVID crisis and all that went along with it, the industry remains in flux with a decrease in demand due to a number of factors such as...
The AI Revolution: How Predictive Procurement is Innovating Transportation Procurement
The transportation and logistics industry has been on a wild ride over the past few years, enduring extreme market volatility brought about by the COVID-19 pandemic, geopolitical events, inflation, environmental regulations, and more. Thankfully, a period of relief is...
Unleashing Efficiency: The Benefits of Autonomous Sourcing in Procurement Strategies
Discover how autonomous sourcing revolutionizes procurement strategies, streamlining processes and maximizing efficiency for businesses of all sizes. In today's fast-paced business landscape, the role of procurement teams in sourcing goods and services is critical to...
Mastering Procurement Acronyms: Understanding of RFI, RFQ, and RFP
Unravel the mystery of procurement acronyms with this comprehensive guide to RFI, RFQ, and RFP. Take your procurement knowledge to the next level! Procurement requests are a critical component of strategic sourcing and purchasing initiatives for businesses....
3 Things to Know About Arkestro’s Exclusive Advisory Council Events
It’s no secret that anyone working in procurement — from CPOs to procurement managers — has their work cut out for them in 2024. According to the Hackett Group’s 2024 Global CPO Survey, procurement teams’ workloads are expected to increase an average of 8% this year. ...
Confronting Skepticism: Embracing Predictive Procurement in a Data-Driven World
More than 50% of all organizations have automated their procurement processes, and about 35% use AI for procurement, up 29% from 2020. This industry-disrupting shift allows procurement teams to make better buying decisions, run more events, and reach more addressable...
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