Talking Supply Chain: Procurement and the AI revolution

Bill Michels got his start in typewriters, working for Smith Corona. He saw the transition from manual typewriters, to electromechanical, to electronic, and eventually into printers. Fast-forward, Michels has spent much of his career in supply chain with significant experience in procurement operations.

Today, Michels is again on the cutting edge of technology as co-founder and chief commercial officer of LavenirAI, which is using artificial intelligence and virtual reality to improve the procurement negotiation process.

“LavinirAI is a negotiation training platform that has an e-learning [component],” Michels tells Talking Supply Chain host Brian Straight in a new podcast episode. “It’s a set of e-learning modules taught by a digital mentor, and then when you’re done with that, you go out and you meet with an avatar that understands human language; understands what you’re saying; understands a case study that you’re going to work with him on and he will negotiate with you over and over again. It’s never the same.”

During the conversation, Michels noted how AI can help manage one of the biggest challenges facing procurement leaders today: risk management.

As supply chains diversify into new regions, Michels also said that AI can help there as well, especially with tasks that are common across procurement functions.

“I think that it’s pretty interesting because we’re trying to transform procurement AI,” he said. “It gives you a lot of opportunity to streamline processes, get rid of tactical and transactional routine tasks like chasing invoices and getting invoices from suppliers reconciled. That’s all going to be done by AI.”

Hear more of Michels’ conversation as he dives deeper into the future of AI in procurement.