business_moment_cognitive_vi_280246.pdf

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This research note is restricted to the personal use of [email protected] This research note is restricted to the personal use of [email protected] Business Moment: Cognitive Virtual Sourcing Agents Expedite Emergency Plant Maintenance Published: 27 October 2015 ID: G00280246 Analyst(s): Ruby Jivan, Kristian Steenstrup Business moments will become the building blocks of improved business processes as the lines between physical and virtual worlds blur. Here, we show IT sourcing and procurement leaders how cognitive technology embedded in sourcing and procurement processes can expedite services to stakeholders. Key Findings Many sourcing and procurement organizations are unable to address business demand in a timely manner, especially in a manufacturing plant environment where coverage is required 24/7 and lack of ef ciency in sourcing and procurement services can impact plant or equipment downtime. Integrated business processes enable fast decisions; however, they require real-time analytics and good data for operational decisions. They can be costly if made with limited or incorrect information. Utilizing cognitive technologies (smart machines), embedded services in sourcing and procurement operations can provide signi cant cost reduction, improve turnaround time and reduce equipment downtime, delivering value to the business stakeholders and allowing the sourcing and procurement team to become a strategic advisor. Recommendations IT sourcing and procurement leaders: Business moments are situational opportunities that can be exploited. Use these moments to communicate complex stories that illustrate the potential of utilizing digital technologies to help build your competitive advantage and leadership networks with like-minded business partners. Gain support from business leaders by demonstrating the value of embracing digital technologies such as smart machines to allow sourcing and procurement teams to become bimodal and support business innovation and process differentiation projects.
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This research note is restricted to the personal use of [email protected] This research note is restricted to the personal use of [email protected] Integrate business moments into your thinking to identify how integrated processes can provide differentiated services. As "things" become smarter and more important in ways you hadn't envisioned, use these moments to help see new connections with your business. Analysis Digital Business Provides the Potential for Numerous Business Moments Digital business is the creation of new business and/or process designs by blurring the digital and physical worlds. Digital business is ushering in an unprecedented convergence of people, business and things, creating new revenue opportunities as well as differentiated services in its wake. Digital business will break down traditional barriers between business segments, creating completely new value chains and business process opportunities to provide signi cant
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