Revolutionizing Procurement and Supply Chain with Erin McFarlane
Revolutionizing Procurement and Supply Chain with Erin McFarlane
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Why managing AI risk presents new challenges
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The difficult of using AI to improve risk management
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How to bring AI into managing risk
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Pros and cons of using AI to manage risks
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Benefits and opportunities for risk managers applying AI
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In this episode, we feature Erin McFarlane, the Vice President of Operations at Fairmarket. With over 20 years of experience, Erin leads Fairmarket's efforts in optimizing procurement and supply chain technology.
She shares her journey from starting as a temp at CVS to becoming an expert in sourcing, contract negotiation, and spend analytics. Erin's work focuses on developing autonomous sourcing platforms that enhance how businesses make purchasing decisions. Erin explains how Fairmarket leverages machine learning and generative AI to create a more efficient and competitive market for procurement.
She discusses the challenges of working with large supplier databases and the complexities of ensuring continuity and security in the supply chain. Erin also highlights the importance of education and thought leadership in helping businesses recognize and solve procurement issues they may not be aware of.
The conversation covers how Fairmarket measures success through cost savings, lead time improvements, and supplier diversity. Erin's passion for her work is evident as she discusses the importance of understanding the bigger purpose behind procurement and supply chain functions.
She also shares insights into the company's latest innovations, including AI-driven tools that help businesses make better purchasing decisions. Listeners can connect with Erin on LinkedIn for more insights: https://www.linkedin.com/in/erinmcfarlane/
For further information about our team, visit nextgengrowth.com
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