Currently customers do analysis of various market reports on their own or hire experts to make procurement decision. The expert, analyses the reports captured from various data source. This can be time consuming and creates dependency on experts, every time a procurement decision should be made. There is also a probability of human error if expert misses important factor. e.g. Assume experts need to analyse various report, different suppliers and their location. If he/she missed to consider some of these factor like plant shutdown and he/she might request a material from the supplier. Now this supplier who has plant down may not be able to serve the order immediately and that might impact production. By using our intelligent procurement system customers can get such expert analysis faster and more accurately. The customer should initially train the model/system with various use cases(reports). The target end user of this system is the person who is working for a procurement section in a company or any other stakeholder who has authority to make procurement decisions.
Fig: Automated annotation post bootstrapping process
To further understand this process, read here.