Implementation of Artificial Intelligence in Supplier Relationship Management for Improved Procurement Processes

Project Abstract

The integration of Artificial Intelligence (AI) in Supplier Relationship Management (SRM) is a strategic approach that holds promise for enhancing procurement processes in organizations. This research project focuses on exploring the implementation of AI technologies in SRM to improve efficiency, effectiveness, and overall performance in procurement operations. The study aims to investigate the benefits, challenges, and implications of deploying AI in SRM systems, with a specific focus on how it can optimize supplier selection, relationship management, and decision-making processes. The research methodology involves a comprehensive review of relevant literature on AI, SRM, and procurement practices to establish a theoretical foundation for the study. A mixed-methods approach will be utilized to collect and analyze data, combining qualitative interviews with procurement professionals and quantitative surveys to gain insights into current practices, perceptions, and experiences related to AI integration in SRM. Chapter 2 of the study presents a detailed literature review covering key concepts, theories, and empirical studies related to AI in SRM and its impact on procurement processes. The review will explore the evolution of AI technologies, the role of AI in SRM, and the potential benefits and challenges associated with its implementation. Chapter 3 outlines the research methodology, including the research design, data collection methods, sampling techniques, and data analysis procedures. The chapter also discusses ethical considerations and limitations of the study. Chapter 4 presents the findings of the research, highlighting the key themes, patterns, and insights derived from the data analysis. The chapter will explore the perceptions, attitudes, and experiences of procurement professionals regarding the implementation of AI in SRM and its impact on procurement practices. Chapter 5 concludes the research project by summarizing the key findings, discussing their implications for practice and theory, and offering recommendations for future research. The study contributes to the growing body of knowledge on AI in SRM and provides valuable insights for organizations seeking to leverage AI technologies to enhance their procurement processes and supplier relationships. Keywords Artificial Intelligence, Supplier Relationship Management, Procurement Processes, Integration, Efficiency, Effectiveness, Decision-Making, Optimization.

Project Overview