Artificial Intelligence-Driven Procurement Optimization and Strategic Performance Enhancement: Evidence from Hydrogen Pharmaceutical PLC By Dr. Tesfay Alemayeh Dagnew
TL;DR
The research suggests that AI is a strategic competency that positively influences procurement efficiency, supplier performance, inventory management, and cost saving.
Abstract
Artificial Intelligence (AI) is revolutionizing procurement and supply chain management through the use of predictive analytics, automation, and informed decision making. This research examines the impact of AI-based procurement optimization on strategic performance at Hydrogen Pharmaceutical PLC. A mixed methodological approach was employed, involving questionnaires to staff members in procurement, supply chain, finance, information technology, and management departments. Out of 60 questionnaires issued, 45 valid responses were analyzed (75% response rate). Data analysis involved descriptive statistics, reliability test, correlation, and multiple regression analyses using SPSS. The findings reveal that AI implementation positively influences procurement efficiency, supplier performance, inventory management, and cost saving. Regression analysis suggests that AI accounts for 63% of the variance in strategic performance (R² = 0.63, p < 0.001). The research suggests that AI is a strategic competency that positively influences procurement efficiency. Keywords: Artificial Intelligence Procurement Optimization Strategic Performance Supply Chain Regression Analysis.