AI Streamlines Retail Procurement, Offering 15% Cost Savings and Boosting Efficiency

Artificial intelligence (AI) has become an indispensable tool in driving transformation across numerous sectors, with retail being no exception.

A study conducted by Inverto and the Boston Consulting Group (BCG) reveals that AI could potentially reduce procurement costs for retailers by as much as 15%. In a competitive landscape where profit margins are steadily shrinking and expenses are subject to volatility, AI presents practical strategies to optimize both direct and indirect procurement methods, thereby enhancing operational efficiency and competitiveness.