Introduction to AI Procurement System Implementation and Operation
Enhancing Corporate Productivity and Reducing Costs through Enterprise-wide DX
S-OIL announced on the 25th that it introduced its AI-based digital procurement system as an innovation case to domestic procurement personnel at the '7th Seoul Supply Management Conference' hosted by the Korea Purchasing Professionals Association and the Korea Procurement Society.
As part of its recent digital transformation strategy, S-OIL has completed the advancement of its procurement system by integrating AI technology into the existing procurement system. It has built price and demand forecasting models that consider internal procurement data and external market price fluctuations to determine the optimal procurement timing. By utilizing the automated ordering item recommendation function, it also prepares for supply chain instability by increasing long-term contracts.
S-OIL is establishing and promoting a company-wide digital transformation roadmap based on new information technology (IT) innovations. It has completed key digital transformation tasks in three areas: digital factories, digital marketing, and smart work. Starting this year, it plans to continue pursuing its digital transformation strategy by researching and analyzing the latest technology trends and advanced domestic and international cases over the next three years.
Jihye Lee, a team leader at S-OIL, said, "We will continue to contribute to the company's digital transformation and sustainable growth through an innovative procurement system."
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