What is Machine Learning/AI

The purpose of this chapter is to provide the basic concepts and the best practices for procurement in the context of digital supply chains. This chapter consists of three sections. In the first two sections, a review of digital supply chain procurement literature and theories is presented, followed by a detailed discussion of the best practices in procurement strategies comprising of the six-step framework for procurement strategies digitalization. Finally, the chapter concludes with future trends in procurement strategies. The chapter consists of case studies from different industries such as manufacturing (Apple, Beta products, IBM), fast food (Chipotle), and logistics/pharmaceutical (DHL). EVA (economic value added) model is discussed in the chapter, which is useful to evaluate the value of digitalization. This chapter is intended for all practitioners and academics who are interested in learning about the current best practices and the challenges associated with procurement for digital goods.