Curt Hall of Cutter Consortium recently published a thought piece on applications of AI and ML for optimizing procurement. He highlighted Suplari and partner RapidRatings as an example use case for managing Supplier risk with AI.
Here’s a quote, click the link below to read the full article.
“In an example of how cloud procurement platform providers are moving to expand their platforms’ capabilities, Suplari has partnered with RapidRatings to integrate the latter’s data about suppliers’ financial health into Suplari’s Spend Agility platform. The purpose is to enable procurement, sourcing, supply chain risk, and finance professionals who manage spend from thousands of direct and indirect suppliers using the Suplari platform to receive an alert notifying them in advance about a supplier’s degrading (or improving) financial position (see Figure 1). This allows them to take timely actions to mitigate risks to the supply chain, such as finding a new supplier and negotiating a new contract.”