What's Happening?
MyTechnic, a Turkey-based Maintenance, Repair, and Overhaul (MRO) provider, has integrated SkySelect's artificial intelligence-driven sourcing platform to revamp its procurement processes. This transition
has resulted in improved speed, supplier engagement, and supply chain resilience. The AI platform automates quoting and streamlines the purchase of aircraft components, allowing MyTechnic to focus on strategic partnerships rather than routine tasks. The system provides real-time market availability for parts, enabling quick vendor comparisons and reducing the risk of over-ordering or shortages. Supplier diversification is also enhanced, with AI facilitating access to a broader range of suppliers and faster quote generation.
Why It's Important?
The integration of AI in procurement processes is significant for the aerospace industry, as it enhances operational efficiency and supply chain management. By automating routine tasks, MyTechnic can allocate more resources to strategic supplier relationships, potentially leading to better pricing and availability of components. The ability to quickly adapt to market changes and diversify suppliers can mitigate risks associated with supply chain disruptions. This development reflects a broader trend in the industry towards digital transformation and the use of AI to optimize operations, which could lead to increased competitiveness and innovation.
What's Next?
MyTechnic plans to continue leveraging AI to further understand and manage its supply chain. The company aims to expand its use of AI to display real-time market availability for nearly all parts, enhancing its ability to compare vendors on various factors. The integration with legacy systems has been smooth, and MyTechnic does not anticipate major disruptions. As AI adoption grows, other MRO providers may follow suit, potentially leading to industry-wide changes in procurement practices and supplier engagement.
Beyond the Headlines
The adoption of AI in procurement processes raises questions about the future of human roles in supply chain management. While automation can improve efficiency, it may also lead to job displacement or require new skill sets for workers. Ethical considerations around data privacy and the reliance on AI for decision-making are also important to address as the technology becomes more prevalent.
