How Should Procurement Adapt to Add Value During Digital Transformation

Friday, November 22, 2019

CASME delegates at the Dubai RoundTable this week were very clear that digitalisation of the procurement function is something everyone should be doing; albeit that there will be different activities, directions and starting points for each company’s journey.  

For some, digitalisation starts with a simple spreadsheet and develops into using robotics or ‘bots’ to assist with supplier registration.  For others, machine-learning techniques will be applied to help procurement teams classify spend.

To be successful on the journey, some basics are required.  For instance, before introducing chatbots to help stakeholders navigate a procurement policy, the fundamental processes and procedures must be in place. The team should have the appropriate skills to conduct data analysis and, even more importantly, to build relationships with stakeholders and suppliers.  These soft skills are crucial to success.  

So, before being concerned that you are lagging behind technology and that every other procurement function is into AI, blockchain and other advanced digitalisation, take a moment to reflect whether you have firstly grasped the basics.

The Dubai RoundTable is part of a series entitled 'Improving the Value of Procurement: Strategic Adaptation and Digital Transformation', that CASME is running in seven cities between late 2019 and spring 2020.  The programme commenced in Amsterdam, followed by Sao Paulo, Kuala Lumpur, Melbourne, New Jersey, Dubai and Mumbai, and finishes in Tokyo in February 2020. The Notes from each meeting, which are made available to all CASME subscribers via the member-only Resource Centre, enable procurement teams to review these collective insights and develop best practice in a frequently changing digital world. 

 

 

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