EDITOR’S NOTE: Despite spending the better part of my 65 years on this planet in high-tech and procurement and loving all technology, here is one of the responses I have received for simply asking for tangible results:
“Haha, that’s ok, John, there were a few detractors of the internet too! Notably, calling it a passing fad!”
My problem isn’t with technology; it is with the misalignment and misuse of technology and the insistence on using an equation-based model, which leads with tech rather than an agent-based model.
Of course, there is a simple solution: “Please show me the results and confirm that you are a profitable organization, and I will sing your praises far and wide.”
Sheldon Mydat, thank you for sharing (the video below).
With what you have outlined above – and remember, we are only talking about procurement here versus AI’s broader use across all areas, e.g., the manufacturing process, can you provide actual results with hard numbers like the ones I reference in this article – https://bit.ly/3AtBHp4
✔ Increased next-day delivery performance from 51% to 97.3%
✔ Delivered a 23% cost of goods savings year-over-year for several consecutive years
✔ Reduced combined FTE buyer headcount from 23 to 3 within 18 months
These results are tangible and measurable for my client, and the benefit for my company was that on $3.2 million in revenue, I turned a profit of $2.1 million using an agent-based model to implement one of the first web-based self-learning algorithm AI platforms.
I still have my financial statements, which I can share with you if you have any doubts. I can also review my archives to show you the solution mapping in my original patent documents.
So, please show me the above results and confirm that you are a profitable organization similar to what my company did above. If you do that, I will sing your praises far and wide.
By the way, the above offer is open to any solution provider that can clearly demonstrate beyond the conceptual level what can be done with their tech and show me what they have actually done, e.g., hard numbers and measurable results.
I will even try to talk Michael Lamoureux into becoming a GenAI believer. Just kidding, Michael—procurement doesn’t need GenAI—it needs problem solvers who understand its intricacies and use an agent-based model to leverage technology to deliver results. 😉
Now, The Apology
I just want to apologize to everyone for the above rant. It is just that these videos from many solution providers sound the same while our industry struggles to succeed with its ProcureTech implementations.
Procurement Insights 
When it comes to AI, Show Me The Results (Money)!
Posted on August 18, 2024
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EDITOR’S NOTE: Despite spending the better part of my 65 years on this planet in high-tech and procurement and loving all technology, here is one of the responses I have received for simply asking for tangible results:
“Haha, that’s ok, John, there were a few detractors of the internet too! Notably, calling it a passing fad!”
My problem isn’t with technology; it is with the misalignment and misuse of technology and the insistence on using an equation-based model, which leads with tech rather than an agent-based model.
Of course, there is a simple solution: “Please show me the results and confirm that you are a profitable organization, and I will sing your praises far and wide.”
Sheldon Mydat, thank you for sharing (the video below).
With what you have outlined above – and remember, we are only talking about procurement here versus AI’s broader use across all areas, e.g., the manufacturing process, can you provide actual results with hard numbers like the ones I reference in this article – https://bit.ly/3AtBHp4
✔ Increased next-day delivery performance from 51% to 97.3%
✔ Delivered a 23% cost of goods savings year-over-year for several consecutive years
✔ Reduced combined FTE buyer headcount from 23 to 3 within 18 months
These results are tangible and measurable for my client, and the benefit for my company was that on $3.2 million in revenue, I turned a profit of $2.1 million using an agent-based model to implement one of the first web-based self-learning algorithm AI platforms.
I still have my financial statements, which I can share with you if you have any doubts. I can also review my archives to show you the solution mapping in my original patent documents.
So, please show me the above results and confirm that you are a profitable organization similar to what my company did above. If you do that, I will sing your praises far and wide.
By the way, the above offer is open to any solution provider that can clearly demonstrate beyond the conceptual level what can be done with their tech and show me what they have actually done, e.g., hard numbers and measurable results.
I will even try to talk Michael Lamoureux into becoming a GenAI believer. Just kidding, Michael—procurement doesn’t need GenAI—it needs problem solvers who understand its intricacies and use an agent-based model to leverage technology to deliver results. 😉
Now, The Apology
I just want to apologize to everyone for the above rant. It is just that these videos from many solution providers sound the same while our industry struggles to succeed with its ProcureTech implementations.
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