Agentic Negotiation Framework for Strategic Vendor Management
Keywords:
multi-agent systems, vendor management, negotiation framework, procurement optimization, operational expenditureAbstract
The purpose of this paper is to introduce an Agentic Negotiation Framework (ANF) for strategic vendor management that leverages multi-agent systems to simulate complex contractual scenarios, benchmark dynamic market pricing, and optimise license and support level selection. ANF shows Chief Information Officers (CIOs) their organization's cost constraints, service-level requirements, and predicted scalability demands that needed to assist them while making choices.
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