There has been a substantial leap in technological development in the field of procurement and supply chain with LevaData, a privately held company, announced the launch of its product Leva, which it claims to be the world’s first AI advisor for strategic sourcing and procurement. The product personalizes insights relating to finance, manufacturing, engineering, and procurement guiding procurement professionals through sourcing risks and savings opportunity. “Leva’s negotiation recommendations allow you to optimize decision making in the face of complex sourcing issues and large data sets.” Claims the company’s website. Additionally, it provides proactive guidelines, optimizes decision making, delivers quicker insights, and makes cognitive sourcing easier.
News Across the World Affecting the Global Supply Chain
GH$98m in Savings Through Stringent Procurement Process – Ghana
The Public Procurement Authority (PPA) has reported a savings of GH$98 million in savings through the stringent procurement process. The government agency expressed that cracking down on contract padding and procurement malpractices have improved the procurement efficiency of the organization. Some of these malpractices included tender rigging, collusion among teachers, bid or tender suppression, and coercing competitors to withhold offers and participation. The Chief Executive of Public Procurement Authority (PPA), Agyenim-Boateng Adjei, released a statement informing, “Procurement Officers and members of GIPS who misconduct themselves in their line of duties and found culpable of any ‘misprocurement’ through PPA’s procurement audits will be made to face sanctions as spelt out in the GIPS Code of Ethics and Conduct.”
SEAT ft. Telefonica – Promoting Digitalization in Automotive Industry
In an attempt to promote digitalization in the automotive industry, Telefonica has reached an agreement with SEAT to promote the use of blockchain and 5G technology in the car industry. The partnership will see Telefonica as the strategic IT supplier, with SEAT working in three key areas, namely, shared use of insights, applications of 5G connectivity, and digital transformation projects in the automotive industry. The move is aimed towards offering mobility solutions to simplify the lives of the user.
Shelves Scanning Robots in Walmart
Walmart is looking to change the face of retail procurement and supply chain with its recent move of rolling out shelf-scanning robots in more than 50 stores. These robots are approximately 2-foot tall and attached with cameras to check stock, identify incorrect pricing labels, along with missing or misplaced items. The robots are highly reliable in identifying stock outs and replenishing inventory faster, savings employees a lot of time. Jeremy King, CTO of Walmart U.S., expressed that store employees have time to scan shelves only about twice a week. Additionally, the company has also hastened the checkout process by allowing customers to scan their purchases and digitized operations like financial services and pharmacy in stores.
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