smart

Procurement has the task to supply an organization with required but not self-produced goods. The goods vs. payment exchange with suppliers is laid down in contracts. “Electronic contracts" or “Smart Contracts” represent the logic digitally and thus enhance transparency. This can still evolve. In the future, improved algorithms and artificial intelligence will not only be able to administer contracts, but also to design them. This article presents the status quo of "Smart Contracting", places it in the "Legal Tech" topic and shows how artificial intelligence could be used in procurement.

Cyber-Physical Systems and the internet of things change the way we see management, production and even logistics processes. The research project “Smart Logistic Grids” uses a decentralized cloud-based management concept to reduce the risk of disruptions in logistics networks.