AI Streamlines Retail Procurement, Cutting Costs by 15% and Boosting Competitiveness

Artificial Intelligence (AI) has solidified its role as a crucial tool in reshaping numerous industries, with the retail sector being no exception.

A study jointly conducted by Inverto and the Boston Consulting Group (BCG) reveals that AI can potentially reduce procurement costs for retailers by a significant 15%.

In an environment where retailers grapple with shrinking profit margins and volatile expenses, AI presents practical solutions to optimize both direct and indirect procurement processes. This optimization leads to improved operational efficiency and competitive edge.