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Key Performance Indicators (KPIs) are also used to manage companies in the retail and wholesale sectors. AI in the form of predictive analytics can establish correlations between individual KPIs and thus provide recommendations for action. KPIs also help retailers and wholesalers to analyse and monitor essential processes.
The increased visibility allows manufacturing firms to effectively manage production schedules and inventory levels — and benefit from procuring more materials at the right time in anticipation of upcoming sales cycles. See also Procurement contract management explained and best practices 2.
By integrating SOA, B2B organizations can streamline both the procurement and delivery process, ensuring that bulk orders are processed efficiently with all the necessary approvals and documentation in place.
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