AI Powered Supplier and Contract Management Solution

The Vendor is required to provide to assist the court with solutions regarding the availability of an AI powered supplier and contract management solution.
- AI solution(s)
•    Oversee spend analysis of executed agreements as categorized by various metadata points including codes, vendor, and more. 
•    Compile reports from spend data based on commodities codes and allow procurement staff to track strategic spending based on categories or top spend vendors. 
•    Manage supplier risk by tracking completion of milestones, price escalations, and other contract performance metrics and proactively alert procurement staff when proposed renewal price escalation exceeds certain defined thresholds or percentages. 
•    Extract predictive analytics to create a dashboard that forecasts upcoming contract requirements based on purchase history and contract end dates. 
•    The vendor can use the DHS acquisition planning and forecasting system (APFS) as a sample. 
•    Automate contract management. 
•    AI’s ability to read and extract and record various metadata points into metadata fields to enable analysis of contract data as described in the points above. 
•    Use natural language processing (NLP) to compare new contracts with approved templates to shorten contract review cycles by extracting key terms, flagging inconsistencies, and suggesting edits based on organizational policies and help with negotiation and redlining. 
•    Streamline through use of AI or other technologies, commodities supplies and services acquisition to speed up procurement action, provide automated or Chabot features that help guide customers on the proper procurement path based on complexity and dollar amount. 
•    Enable self-directed procurement inquiry of appropriate procurement path and application supported fulfillment of appropriate process to acquire services or commodities adhering to procurement controls and standards.