The role of procurement in driving innovation and ensuring market readiness has never been more critical. In a recent webinar, Improving Speed to Market and Speed to Access with AI-Powered Procurement, Andy Shigo (Head of Procurement at Iovance Biotherapeutics) and Jennifer Sadr (Head of Customer Success at ORO Labs) shed light on the transformative impact of artificial intelligence (AI) in procurement operations, particularly for biopharma leaders.

The case for AI in procurement orchestration

Procurement is no longer a siloed, transactional function. Instead, it’s at the heart of operational efficiency and strategic alignment. This conversation highlights how traditional procurement processes often suffer from inefficiencies such as prolonged vendor selection, slow contract approvals, and suboptimal data usage. These issues can delay market entry, a significant drawback in the biopharma industry, where time-to-market often determines success.

AI-powered procurement orchestration addresses these challenges by automating repetitive tasks, integrating real-time data analysis, and improving cross-functional collaboration. By reducing manual bottlenecks and leveraging predictive analytics, organizations can streamline their workflows and align procurement goals with broader business objectives.

Emerging trends in procurement orchestration

Procurement orchestration is a framework combining automation, data intelligence, and human expertise to optimize supply chain and procurement outcomes. Both Andy and Jenn emphasize that this approach is not just about technology but also about adopting a new mindset:

1. Unified Platforms: orchestration tools that integrate seamlessly with existing enterprise systems enable procurement teams to manage end-to-end processes from a single interface, eliminating the inefficiencies of fragmented systems.

2. Data-Driven Insights: Integrating data from multiple sources and leveraging AI's analytical capabilities allow organizations to forecast demand, evaluate supplier risks, and precisely identify cost-saving opportunities.

3. Real-Time Collaboration: Modern orchestration platforms facilitate real-time communication and decision-making across teams, ensuring that procurement aligns with R&D, regulatory, and marketing timelines.

4. Agility in Market Access: For biopharma companies, the ability to quickly adapt procurement strategies to changing market conditions is paramount. A No-code platform enables agility through improved decision-making and the ability to quickly adjust workflows in ways that minimize change management costs.

Overcoming challenges

Despite the benefits, adopting AI in procurement is not without hurdles. Resistance to change, the complexity of integrating new technologies, and the need for upskilling the workforce are common barriers. The speakers recommended a phased approach, starting with smaller pilot projects to demonstrate value and build organizational confidence. You don't have to boil the ocean.

They also stressed the importance of fostering a culture of collaboration. Procurement leaders must work closely with IT, finance, and operational teams to ensure successful implementation. Training programs and clear communication about the benefits of AI can help mitigate resistance.

This webinar underscores the transformative potential of AI in procurement orchestration. By embracing these innovations, organizations can accelerate time-to-market, reduce operational inefficiencies, and drive sustainable growth. For biopharma leaders, the message is clear: the time to act is now. Investing in AI-powered procurement today ensures readiness for tomorrow’s challenges, making it a critical component of strategic planning.

Schedule a demo to see how ORO can orchestrate your gnarliest procurement processes.