Artificial intelligence, blockchain, and data analytics can be leveraged to build optimized supplier relationships. Streamlining the process produces many benefits, including reduced costs and increased supplier diversity.- BY CECIL PARANG

Supplier relationship management is focused on optimizing supplier relationships while managing costs in procurement processes. As procurement processes undergo a digital transformation and increasingly embrace advanced technologies, the technology tools can build and support strong supplier relationships. The potential benefits include reduced costs, better inventory forecasting, increased diversity in the supply chain, and enha....