AI Revolutionizes Retail Procurement, Slashing Costs by Up to 15%

Artificial Intelligence (AI) is proving instrumental in the transformation of numerous sectors, particularly retail. Recent studies by Inverto and Boston Consulting Group (BCG) reveal that AI can potentially reduce procurement costs for retailers by as much as 15%.

In an environment where retailers grapple with shrinking profit margins and volatile expenses, AI presents a viable means to optimize both direct and indirect procurement operations. This enhancement of operational efficiency and competitiveness is crucial in today’s competitive retail landscape.