Pactum Raises $20 Million to Help Automate Retail Supplier Negotiations

PlatformsSupply Chain
Written By Rick Watson

Pactum offers AI-powered software that helps big companies like Walmart automate routine supplier negotiations.

Many people already think that Amazon’s vendor managers are robots, well this fantastic experience is coming to the rest of the retail industry, and soon.  Maersk Growth fund has invested 20 million dollars in Pactum to help automate routine supplier negotiations.  I guess it’s not hard to program ChatGPT to tell you to give a lower price and fill your purchase orders faster.

Bloomberg: Pactum Raises $20 Million in Maersk-Backed Funding to Grow AI Deal-Making

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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