Strategic Sourcing and Vendor Management in the Food Industry: Leveraging AI, Blockchain and Transparency for a Sustainable, CarbonNeutral Future

Abstract

In the evolving global food industry, strategic sourcing and vendor management have become critical for ensuring food safety, ethical practices, sustainability, and transparency. The integration of advanced technologies such as Artificial Intelligence (AI), Robotic Process Automation (RPA), and blockchain offers unprecedented opportunities to enhance supply chain efficiency and visibility, fostering trust among consumers and stakeholders. This paper explores advanced approaches to strategic sourcing, emphasizing vendor selection, relationship management, and cost negotiation within the context of AI and blockchain implementation and the pursuit of a carbon- neutral world. It provides insights into how executives can drive industry-wide changes to meet future demands, highlighting the importance of ethical sourcing, sustainability, and technological innovation in shaping the food industry’s future.