The Application and Innovation of Digitization in the Field of Procurement Management
Year: 2024
Type: article
Abstract: The rapid development of digital technology is profoundly transforming various aspects of procurement management. Through big data, artificial intelligence, and automation technology, enterprises can more accurately predict demand, improve the scientific selection and management of suppliers, and reduce human decision-making errors. At the same time, digital systems can ensure the legality and efficiency of contract execution in contract and compliance management, reducing legal risks. In inventory management, intelligent optimization solutions help enterprises dynamically adjust inventory levels to avoid inventory backlog or shortage. In addition, the digital process of procurement execution and performance evaluation makes the entire procurement process traceable and transparent, improving the overall efficiency of the supply chain. Digitization not only improves the efficiency and accuracy of procurement management, but also enhances the ability of enterprises to respond to market changes, realizing the intelligence and automation of procurement processes, and becoming a key factor for modern enterprises to enhance competitiveness.
DOI: 10.54097/mqjzwf05
Authors: Chao Zhang, Wenshuang Ma, Chao Fan, Linwei Qi
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404147414