❓ AI myth number three: AI will drive improved productivity and results 💡 The reality: Like any other tool, AI is just that: a tool. AI can help to improve efficiency and business outcomes, but only if teams understand how to leverage it effectively. Organisations will need to offer ongoing training and upskilling opportunities to take full advantage of AI. Stay tuned for two more days of AI myths and realities, and feel free to share your experiences with AI in procurement and supply chain in the comments! 👇 #ai #artificialintelligence
Efficio
Business Consulting and Services
London, England 43,244 followers
The world's largest procurement and supply chain consultancy
About us
Efficio has specialised in procurement and supply chain management for more than 20 years, supporting our clients across the globe to identify, deliver, and sustain improvement opportunities. This scale and singular focus set us apart. Operating out of 14 offices across Europe, MENA and North America, we help organisations reduce costs, improve internal processes, and upskill their procurement teams, enabling them to become high-value-generating functions within their businesses. Our combination of expertise, data, technology, and human intelligence delivers value improvements at speed, allowing organisations to operate more efficiently and compete more effectively in an ever-changing landscape. Efficio supports blue-chip multinationals, private equity firms and their portfolio companies, and SME clients around the world to deliver increased value from procurement and supply chain management. To learn more, please visit www.efficioconsulting.com or call 44 (0)20 3908 4040
- Website
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http://www.efficioconsulting.com
External link for Efficio
- Industry
- Business Consulting and Services
- Company size
- 1,001-5,000 employees
- Headquarters
- London, England
- Type
- Privately Held
- Founded
- 2000
- Specialties
- Procurement Transformation, Strategic Sourcing, Supplier Relationship Management, Managed Procurement Services, eSourcing, eFlow, Technology, Procurement, Supply Chain, Procurement Consultancy, Supply Chain Consultancy, Procurement Consultants, Supply Chain Consultants, Working Capital, Digital Transformation, Procurement Training, Category Management, and Digital Procurement
Locations
Employees at Efficio
Updates
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❓ AI myth number two: More data means better outputs 💡 The reality: More data can mean better outputs – but not if the data is messy, inaccurate, or incomplete. Feed it low-quality data, expect low-quality outputs. Keep your eyes peeled for three more days of AI myths and realities, and let us know about your experiences with AI in procurement and supply chain in the comments! 👇 #ai #artificialintelligence #procurement #supplychain
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❓ AI myth number one: "Artificial intelligence is biased" With the AI buzz still going strong across most business sectors and functions, including procurement and supply chain, we're sharing five common AI myths and pitfalls your teams should be aware of. 👀 So, back to our first myth ... 💡 The reality: AI systems are not inherently biased, per se. However, outputs depend on the data AI is fed. If the data is biased or incomplete, AI outputs will adopt or even amplify those biases. On the flipside, by building in ways to identify and remove biases, AI could actually prevent human biases in decision-making processes. Stay tuned for four more days of AI myths and realities 🔍 and let us know about your experiences with AI and what other myths you've encountered in the comments below. 👇 #artificialintelligence #ai
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“In the fashion industry, the business of cost reduction versus the business of making beautiful items are often at odds,” says Efficio Senior Consultant Samantha Stern. So, how can fashion brands navigate these two considerations, seemingly at odds with one another? Find out how our medical scrub manufacturer client managed this process to ultimately empower design through cost reduction: https://lnkd.in/epKFvxgU #fashionindustry #costreduction #procurementleaders
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Got strong account-based marketing experience? 🤝 Got a flair for turning complex ideas into compelling insights? ✍ Excited by the idea of working with a global team? 🗺️ Then look no further – join our team as a Marketing and Communication Manager! Efficio is a super international consultancy combining all the benefits of working at an established firm with the collaborative and entrepreneurial culture of a younger organisation. Find out more about the role and apply here: https://lnkd.in/e99XUr5k #werehiring #marketingjob
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Cutting costs is always tough – especially so for a multinational packaging manufacturer like our client, for whom operations spanning 15 countries and 40 sites created additional complexities. Find out how this global organisation approached its strategic sourcing programme to deliver 9% savings in annual costs, as well as further value beyond costs savings: https://lnkd.in/d4_x2Fan #costreduction #strategicsourcing #procurementleaders
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"With all the supply chain risks, tariffs and long lead times, the cost delta between China and the U.S. has become less attractive, and especially with automation, there is a preference to have supply closer to home.” Efficio Vice President Waldo S. shares his insights into nearshoring trends with Kathryn Maloney in Middle Market Growth Magazine – have a read about the opportunities and long-term outlook: https://lnkd.in/eyc_uHKe #nearshoring #supplychainresilience #manufacturing
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Missed our expert panel discussion on “AI in Procurement: The opportunities, challenges, and ethics”? No sweat – check out the full recording to hear from: 🎤 Charles Radclyffe, CEO at EthicsAnswer 🎤 Cyril Pourrat, Founder & CEO at BT Sourced 🎤 Emma Wright, Partner/Lawyer at Harbottle & Lewis and Director at the Interparliamentary Forum on Emerging Technologies Listen now: https://lnkd.in/eNKQriHP Many thanks to our panellists for sharing their experiences and insights! #ai #procurementtech #procurementleaders
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At Efficio, we work hard ... but we always make *thyme* to have fun together (and root around the internet for cooking puns). 👩🍳 Join our soup-er (sorry) team: https://lnkd.in/egqNMbB8 #consultingjobs #companyculture
🌟 Celebrating our amazing team! 🌟 Our recent mid-year team event brought together our colleagues from the London and German offices. With 13 languages spoken and 12 nationalities represented within our project team alone, I'm reminded of how our ability to bring diverse perspectives and ideas are the core ingredients to our success! 💪 I am incredibly proud of what our project team has achieved so far -- here's to our incredible Efficio team and the collaborative spirit that brings our international team together! #Consulting #DiversityAndInclusion #OneTeam #GlobalCulture Tim von der Decken Christian Lind Alberto Charro Louis Ihle Rutvij Waze Vasilis Mastorakis Rutvij Waze Nassib Khoury Tanushqa (Tana) Kapadia Marvin Frisch Marten Kayser Igor Babić Moritz E. Patrick Bergmann Gregor Leschinski Maria Esina Alexandra Șarpe David Kott Stefano Scarduelli Nico Tenkhoff Tobias Seifert Maximilian Krepp Fynn Mader Felix Krinninger Philipp Glasmacher Felix Richter #TeamSpirit #DiversityAndInclusion #OneTeam #GlobalCulture
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We’re excited to have our work supporting a Giga project in the Kingdom of Saudi Arabia shortlisted in the “Procurement Consultancy Project of the Year” category of the CIPS - The Chartered Institute of Procurement & Supply Excellence in Procurement & Supply Chain Awards 2024. We’re looking forward to continue helping to shape the region's future, as well as the upcoming awards! 👀 #procurementleaders #gigaprojects #procurementexcellence
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