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Wednesday, April 08, 2020

Wal-Mart Automates Supplier Negotiations

Procurement and related supplier contracts and negotiations addressed with AI type methods:

Walmart automates supplier negotiations
By Dan Berthiaume - 03/26/2020 in ChainstoreAge

Walmart is leveraging artificial intelligence (AI) to negotiate more valuable supplier contracts at lower cost.

The discount giant is deploying the AI-based commercial negotiations platform from Pactum to automate negotiations with part of its global supplier network. 

Walmart is set to pilot the Pactum platform with some of the company’s long tail vendors who provide low-volume, niche products. 

Pactum’s team of analysts begins each project by mapping what they call the “value function” in a given set of negotiations. This is combined by the vendor’s negotiation chatbot, which is capable of autonomously conducting best practice negotiations. Once a negotiation is complete, all information will be updated automatically in Walmart’s relevant systems, such as ERP and CRM.  ... " 

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