Analyst Reports
Procurement 2024: BIG Trends and Predictions
By the end of 2024, new AI innovations will begin to significantly change all facets of supply management technology.Summary This report provides a comprehensive overview of the challenges and opportunities procurement teams are expected to face in 2024. Despite the...
Predicts 2024: CPOs Adjust to Technology’s Impact on Procurement
By 2027, 40% of sourcing events will be executed by nonprocurement staff.Summary With procurement technology rapidly evolving, it is time for Chief Procurement Officers to prepare for the digital impact it will have on procurement operations and staffing. In this...
Predictive Procurement Orchestration: Four Ways PPO Can Transform the Industry
Summary A majority of Chief Procurement Officers believe the ability to use data to make better-informed decisions across an organization is the largest game-changing opportunity for procurement – and yet, many procurement teams are hesitant to adopt automation across...
AI-Enhanced Pricing Optionality: Making Supply Chains More Predictable
When you talk about the role of machine learning and AI, it’s really about creating the benefits of optionality for your purchasing organization without the administrative process and overhead costs associated with managing that complexity. Summary The automotive...
Arkestro Named a Value Leader in Spend Matters 2022 SolutionMap for Sourcing
Arkestro’s unique approach to AI and sourcing delivers robust capabilities to forecast outcomes of sourcing events before they are actually issued. Therefore, it is a solution that organizations wanting to intelligently automate some of their sourcing events should...
Procurement’s Future is Embedded Platforms: Introduction to Predictive Procurement Orchestration
Summary Procurement has long been criticized for being short-sighted in optimizing for short-term cost savings - because that is how many organizations measure procurement’s success. Spend Matters discusses how a self-driving system like Arkestro can lead to...
Procurement 2024: BIG Trends and Predictions
By the end of 2024, new AI innovations will begin to significantly change all facets of supply management technology.Summary This report provides a comprehensive overview of the challenges and opportunities procurement teams are expected to face in 2024. Despite the...
Predicts 2024: CPOs Adjust to Technology’s Impact on Procurement
By 2027, 40% of sourcing events will be executed by nonprocurement staff.Summary With procurement technology rapidly evolving, it is time for Chief Procurement Officers to prepare for the digital impact it will have on procurement operations and staffing. In this...
Predictive Procurement Orchestration: Four Ways PPO Can Transform the Industry
Summary A majority of Chief Procurement Officers believe the ability to use data to make better-informed decisions across an organization is the largest game-changing opportunity for procurement – and yet, many procurement teams are hesitant to adopt automation across...
AI-Enhanced Pricing Optionality: Making Supply Chains More Predictable
When you talk about the role of machine learning and AI, it’s really about creating the benefits of optionality for your purchasing organization without the administrative process and overhead costs associated with managing that complexity. Summary The automotive...
Arkestro Named a Value Leader in Spend Matters 2022 SolutionMap for Sourcing
Arkestro’s unique approach to AI and sourcing delivers robust capabilities to forecast outcomes of sourcing events before they are actually issued. Therefore, it is a solution that organizations wanting to intelligently automate some of their sourcing events should...
Procurement’s Future is Embedded Platforms: Introduction to Predictive Procurement Orchestration
Summary Procurement has long been criticized for being short-sighted in optimizing for short-term cost savings - because that is how many organizations measure procurement’s success. Spend Matters discusses how a self-driving system like Arkestro can lead to...
Infographics
Westfall Technik’s Procurement Process with Arkestro
1Aggregate and specify demand2Identify potential suppliers3Simulate quotes from all potential suppliers using predictive modeling techniques4Shortlist and qualify suppliers using both history of supplier relationship and simulation5Invite qualified suppliers and...
Understanding Tiered Automotive Suppliers (And How PPO Can Help)
Original Equipment Manufacturer (OEM)The name brands we know and love such as GM, Ford, Volkswagen, etc. Arkestro's Predictive Procurement Orchestration (PPO) can sort through the countless tiers of automotive suppliers to find the best prices and suppliers to get the...
The State of Procurement: Opportunities Lost
Many of today’s procurement departments struggle with precision and efficiency, leading them to fall short of their goals and potential. Because of this, many departments are experiencing diminishing returns and lost opportunities. Here are the four most common...
Reclaiming Opportunities with Predictive Procurement Orchestration
1. Expand Reach and Influence on SpendPPO can drive efficiency across procurement by identifying patterns that reduce the amount of time spent on tactical activities.2. Drive Smarter DecisionsPPO solutions can deliver information efficiently using machine learning and...
Untangling Manufacturing Procurement with Data Analytics in the “Next Normal”
Procurement can be a cumbersome process for contract manufacturing operations, which must procure on behalf of their customers to meet rapidly changing production requirements. Determining the total delivered costs for any given Bill of Materials can often be very...
Just the Facts: The Procurement Industry
The percentage of spend under management of the procurement department at the average enterprise.Nine in 10 CPO's stated they should be doing more with the resources they have in place today and their overall performance should be better.Ineffective and inefficient...
Westfall Technik’s Procurement Process with Arkestro
1Aggregate and specify demand2Identify potential suppliers3Simulate quotes from all potential suppliers using predictive modeling techniques4Shortlist and qualify suppliers using both history of supplier relationship and simulation5Invite qualified suppliers and...
Understanding Tiered Automotive Suppliers (And How PPO Can Help)
Original Equipment Manufacturer (OEM)The name brands we know and love such as GM, Ford, Volkswagen, etc. Arkestro's Predictive Procurement Orchestration (PPO) can sort through the countless tiers of automotive suppliers to find the best prices and suppliers to get the...
The State of Procurement: Opportunities Lost
Many of today’s procurement departments struggle with precision and efficiency, leading them to fall short of their goals and potential. Because of this, many departments are experiencing diminishing returns and lost opportunities. Here are the four most common...
Reclaiming Opportunities with Predictive Procurement Orchestration
1. Expand Reach and Influence on SpendPPO can drive efficiency across procurement by identifying patterns that reduce the amount of time spent on tactical activities.2. Drive Smarter DecisionsPPO solutions can deliver information efficiently using machine learning and...
Untangling Manufacturing Procurement with Data Analytics in the “Next Normal”
Procurement can be a cumbersome process for contract manufacturing operations, which must procure on behalf of their customers to meet rapidly changing production requirements. Determining the total delivered costs for any given Bill of Materials can often be very...
Just the Facts: The Procurement Industry
The percentage of spend under management of the procurement department at the average enterprise.Nine in 10 CPO's stated they should be doing more with the resources they have in place today and their overall performance should be better.Ineffective and inefficient...
Blog
Embracing AI and Predictive Procurement to Overcome Industry Challenges
Today’s procurement teams are faced with a host of challenges: Managing more spend with fewer headcount. Dramatically improving the internal customer experience and supplier experience. Enhancing supplier performance. Balancing conflicting priorities and delivering...
Pioneering Procurement: How Arkestro’s Patents Are Reshaping the Industry
In the dynamic realm of procurement, leveraging cutting-edge technology and innovative methodologies isn't just advantageous—it's essential. At Arkestro, we're not merely tracking industry trends; we're creating them. Ben Leiken, Arkestro’s Chief Technology Officer,...
Unleashing the Power of Procurement Buyers: Delving into this Impactful Role
Buyers have always played an important role in the procurement industry, helping organizations obtain goods and maintain a careful balance of speed, cost-efficiency, and quality. But in 2024, the role has never been more important. After years of focusing on cost...
Inspiring Inclusion: The Transformative Role of Women in Procurement
As we celebrate International Women's Month 2024, the spotlight shines on the progress toward equality and the continued journey for inclusive growth within the professional sphere. This year's theme, Inspire Inclusion, resonates profoundly across various industries,...
Gartner® Top 4 Predictions for Procurement in 2024
If the last five years have taught procurement professionals anything, it’s that things can change in an instant. From a global pandemic completely disrupting supply chains to the emergence of artificial intelligence (AI) as a game-changing technology to automate...
From Reactive to Proactive: How Predictive Procurement Reshapes the Industry
The procurement workload is expected to increase by 10.6% in 2023, even as organizations continue to grapple with talent shortages, budget cuts, supply chain issues, and global inflation. The result? An industry productivity gap of 7.4% and an efficiency gap of 7.8%,...
Embracing AI and Predictive Procurement to Overcome Industry Challenges
Today’s procurement teams are faced with a host of challenges: Managing more spend with fewer headcount. Dramatically improving the internal customer experience and supplier experience. Enhancing supplier performance. Balancing conflicting priorities and delivering...
Pioneering Procurement: How Arkestro’s Patents Are Reshaping the Industry
In the dynamic realm of procurement, leveraging cutting-edge technology and innovative methodologies isn't just advantageous—it's essential. At Arkestro, we're not merely tracking industry trends; we're creating them. Ben Leiken, Arkestro’s Chief Technology Officer,...
Unleashing the Power of Procurement Buyers: Delving into this Impactful Role
Buyers have always played an important role in the procurement industry, helping organizations obtain goods and maintain a careful balance of speed, cost-efficiency, and quality. But in 2024, the role has never been more important. After years of focusing on cost...
Inspiring Inclusion: The Transformative Role of Women in Procurement
As we celebrate International Women's Month 2024, the spotlight shines on the progress toward equality and the continued journey for inclusive growth within the professional sphere. This year's theme, Inspire Inclusion, resonates profoundly across various industries,...
Gartner® Top 4 Predictions for Procurement in 2024
If the last five years have taught procurement professionals anything, it’s that things can change in an instant. From a global pandemic completely disrupting supply chains to the emergence of artificial intelligence (AI) as a game-changing technology to automate...
From Reactive to Proactive: How Predictive Procurement Reshapes the Industry
The procurement workload is expected to increase by 10.6% in 2023, even as organizations continue to grapple with talent shortages, budget cuts, supply chain issues, and global inflation. The result? An industry productivity gap of 7.4% and an efficiency gap of 7.8%,...