Enhancing Transparency in FPT's Procurement Activities with AI

Similar to how 'traffic camera' systems empower drivers to adhere to traffic rules, AI technology in FPT Corporation's Procurement Departments is revolutionizing transparency and efficiency in purchasing operations. By integrating AI, FPT Corporation empowers its employees, enhancing the visibility of all procurement activities, optimizing work processes, and leveraging advanced monitoring and fraud detection features.

In June, two new AI-driven features were officially introduced to enhance the workflow of FPT's procurement functional departments. These features leverage Machine Learning/Deep Learning models and natural language processing, utilizing data analysis from purchasing histories to provide more effective support.

Ms. Trinh Thi Thuy Linh, Director of the Procurement Department at FPT Corporation, highlighted that the integration of AI technology into procurement processes has significantly improved efficiency and reduced employees' working hours. Moreover, it has enhanced transparency, monitoring, and fraud prevention, akin to a 'traffic camera' system that aids compliance. "This advancement aligns with FPT's strategic commitment to leading with cutting-edge technology, enhancing service quality, and safeguarding the company's and its stakeholders' interests," she affirmed.

With the fraud monitoring and warning feature that checks price differences, AI analyzes and compares all input purchase prices across the Corporation. It can detect unusual patterns or discrepancies in purchasing transactions, providing timely warnings to managers and leaders at the unit and corporate levels. Specifically, after the 'buyer' sets up a purchasing plan, AI will check and compare the current price with historical data from the past year. In particular, AI continuously performs automatic price comparisons, reducing the risk of unusual transactions. This helps protect the interests of the company and stakeholders enhances transparency and reputation in procurement and aids in assessing purchasing efficiency and evaluating the price stability of goods and suppliers.

The second feature successfully implemented is "Supplier Suggestions." AI analyzes and understands product information on a Purchase Request (PR) and assists buyers by recommending suppliers who have sold similar goods to FPT within the past year. The AI provides the buyer with information such as the supplier's name, product price, average rating, on-time delivery rate, order delivery time, and contact details for further discussion if needed.

The FPT Procurement Department is encouraging users to fully utilize these new features to source high-quality supplies at the best possible cost.

AI is indeed a key focus for FPT Corporation. FPT aims to integrate AI into every aspect of life and embed technology across all products and solutions within the Made by FPT ecosystem. This approach will benefit end users and enhance management and business activities across the Corporation and its member companies, optimizing operations and boosting labor productivity.