P&SC LIVE Singapore – Geodis’ CPO Keynote

Terence Lee, Chief Procurement Officer (Asia Pacific) at Geodis, explores the impact and potential of Gen AI in procurement and supply chain management

Opening Procurement & Supply Chain LIVE Singapore, Terence Lee, Chief Procurement Officer (Asia Pacific) at Geodis, delved into the influence of Generative AI (Gen AI) in the procurement landscape.

Although Gen AI isn't fully autonomous, its capacity to emulate human intellect promises enhanced efficiency in procurement, contingent upon human ingenuity and strategic acumen.

Terence underscores Gen AI's efficiency advantages, particularly in task streamlining and insights provision, notably in contract management and cost optimisation. However, he cautions against conflating its value with exaggerated claims, emphasising the importance of organisational maturity and seamless integration into existing workflows. Training and a readiness to adapt are crucial.

Procurement & Supply Chain LIVE Singapore

Terence stresses the significance of collaboration between AI providers and end-users, citing trust, guidance, and a shared journey as key to success.

"If we want to improve our processes, if we want to improve our efficiency, how best can we include AI as part of our enabling?" says Terence.

He advocates for embracing experimentation and learning from failures, likening AI implementation to nurturing a child—providing guidance while remaining adaptable. Continuous learning and a willingness to reset when necessary pave the way for successful AI integration in procurement.

"Please make mistakes, because as weird as it may sound, you're going to learn more from your mistakes,” says Terence.

More to come in 2024…

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