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Jun 5, 2020

In this week's episode of The Grocery Insider, in association with HRA Global, we speak to Martin Rand, CEO of Pactum AI.

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00:00 - 06:15 Introduction to Martin

  • He was a project manager at Skype, moving into his own company in farm management systems for farmers.
  • A look into how Martin’s work with Walmart came about.
  • An insight into how Pactum was started, by aiming to make negotiations more efficient, to get better outcomes for both sides.

06:15 - 15:35 Pactum’s aims.

  • The primary driver is a lack of resource from retail side?
  • Where margins are squeezed, is AI better at getting to the further reaches of their supply base?
  • Pactum interacts through a ‘chat’ based system, which aims to make better, more win-win, efficient deals for both sides.
  • Where does it gather its data from?
  • What makes Pactum different in that this is a very technical conversation between two specialists? 

15:35 - 20:10 The ‘Bot’

  • What is most important to the bot? Is it price, quality, service level, footfall?
  • Does this technology lose that important ‘human’ factor in the deals done?

20:10 - 23:25 Incorporating AI into your negotiations

  • What advice would you give a food and drink brand that has an AI approach from a retailer? How would you advise a brand to engage with bot buying?
  • How tough times allow companies to innovate more.
  • What type of retail is interested in working with Pactum?

23:25 - end: The future

  • With the delayering of head offices, are companies creating new roles to program, monitor and supervise the AI?
  • Does this not create a two-tier supply base with bigger suppliers with more selling power vs smaller suppliers relegated to negotiating with the bot?
  • 10 years from now, will the technology has taken root and how wide do you think it will be?

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