July 2024 Case Study
Just 6 months into our journey of revolutionizing our platform and customer experience with ‘Unified Supplier Collaboration,’ we have some truly remarkable results to share.
1. 51% Faster Supplier response
2. 23% improvement in PO Acknowledgement rate
3. 44% Improvement in OTD (on-time delivery)
4. 38% Improvement in OTIF (on-time and in full)
2000 Case Study
Here is an excerpt from the following post – https://bit.ly/3FBnFRr.
Beyond a detailed three-step overview, what I did not provide in the above posts were the nuts and bolts details of how, before we even introduced the technology, we enabled the end client to:
✅ Improve SLA performance from 51% to 97.3% in 3-months
✅ Consistently reduce their MRO cost-of-goods by 23% year-over-year
✅ How we reduced their FTE from 23 down to 3 in eighteen months
I want to re-emphasize that the groundwork for our accomplishments occurred before introducing technology.
One of the first things I did was understand what role the other stakeholders or “agents” played in procurement’s success.
What Is The Difference Between 2000 and 2024
The above was accomplished in the late 1990s through an agent-based approach to solution modeling. Yes, the technology was built using advanced self-learning algorithms and AI. But the tech wasn’t the star—it was the expertise behind the technology.
Gartner states that 85% of AI projects fail due to unclear objectives and obscure R&D project management processes. As well, 87% of R&D projects never get to the production phase, while 70% of clients indicated minimal or even no impact from AI. Neurons Lab (November 2023)
Sadly, beneath the aspirational headlines and the tantalizing potential lies a sobering reality: Most AI projects fail. Some estimates place the failure rate as high as 80%—almost double the rate of corporate IT project failures a decade ago. There are ways, however, to increase the odds of success. – Havard Business Review (November 2023)
As was the case in 2000, in 2024, “The Technology Is Irrelevant.” What matters is the expertise behind it—in this case, Tom Kieley and Clint McRee‘s “problem-solving” ability.
My advice to Kieley and McRee: Your platform is not revolutionary, nor is anyone’s tech platform revolutionary. It is your unique industry expertise and how you use it to leverage technology that matters.
One Final Thought
10 years from now, we will look back at today’s technology with the same dismissive attitude we now have for floppy drives, 2800bpms modems, and dot matrix printers.
30
Procurement Insights
AI Is Dime A Dozen Technology Or Why It’s Time To Stop Chasing Shiny Objects
Posted on July 7, 2024
0
July 2024 Case Study
Just 6 months into our journey of revolutionizing our platform and customer experience with ‘Unified Supplier Collaboration,’ we have some truly remarkable results to share.
1. 51% Faster Supplier response
2. 23% improvement in PO Acknowledgement rate
3. 44% Improvement in OTD (on-time delivery)
4. 38% Improvement in OTIF (on-time and in full)
2000 Case Study
Here is an excerpt from the following post – https://bit.ly/3FBnFRr.
Beyond a detailed three-step overview, what I did not provide in the above posts were the nuts and bolts details of how, before we even introduced the technology, we enabled the end client to:
✅ Improve SLA performance from 51% to 97.3% in 3-months
✅ Consistently reduce their MRO cost-of-goods by 23% year-over-year
✅ How we reduced their FTE from 23 down to 3 in eighteen months
I want to re-emphasize that the groundwork for our accomplishments occurred before introducing technology.
One of the first things I did was understand what role the other stakeholders or “agents” played in procurement’s success.
What Is The Difference Between 2000 and 2024
The above was accomplished in the late 1990s through an agent-based approach to solution modeling. Yes, the technology was built using advanced self-learning algorithms and AI. But the tech wasn’t the star—it was the expertise behind the technology.
Gartner states that 85% of AI projects fail due to unclear objectives and obscure R&D project management processes. As well, 87% of R&D projects never get to the production phase, while 70% of clients indicated minimal or even no impact from AI. Neurons Lab (November 2023)
Sadly, beneath the aspirational headlines and the tantalizing potential lies a sobering reality: Most AI projects fail. Some estimates place the failure rate as high as 80%—almost double the rate of corporate IT project failures a decade ago. There are ways, however, to increase the odds of success. – Havard Business Review (November 2023)
As was the case in 2000, in 2024, “The Technology Is Irrelevant.” What matters is the expertise behind it—in this case, Tom Kieley and Clint McRee‘s “problem-solving” ability.
My advice to Kieley and McRee: Your platform is not revolutionary, nor is anyone’s tech platform revolutionary. It is your unique industry expertise and how you use it to leverage technology that matters.
One Final Thought
10 years from now, we will look back at today’s technology with the same dismissive attitude we now have for floppy drives, 2800bpms modems, and dot matrix printers.
30
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