Executive Briefings

Seven Procurement Predictions for 2018

As 2018 begins, Supply Management rounds up some predictions for the year ahead.

Brexit’s questions will start to be answered:

While 2017 was the year of Brexit uncertainty, 2018 will be the year where things start to change. Procurement teams will need to start proactively helping their businesses deal with that change and minimise exposure to contract and legal risk, says Sam De Silva, partner at law firm CMS Cameron McKenna Nabarro Olswang.

Procurement will need to integrate its functions:

Procurement can no longer be a discrete and siloed function, says Shivani Govil, vice president of solutions management at SAP Ariba. “In the year ahead, companies will move away from niche offerings that address pieces of the procurement puzzle towards integrated platforms.”

Technology will continue to drive the profession:

Automation, machine learning and artificial intelligence will continue to be buzzwords for the year ahead. “In embracing them, procurement organisations can perform transactional activities at much greater speed,” says Marcell Vollmer, chief digital officer at SAP Ariba. More importantly, technology will allow buyers to make smarter, more informed decisions that drive value and go beyond cost savings.

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Brexit’s questions will start to be answered:

While 2017 was the year of Brexit uncertainty, 2018 will be the year where things start to change. Procurement teams will need to start proactively helping their businesses deal with that change and minimise exposure to contract and legal risk, says Sam De Silva, partner at law firm CMS Cameron McKenna Nabarro Olswang.

Procurement will need to integrate its functions:

Procurement can no longer be a discrete and siloed function, says Shivani Govil, vice president of solutions management at SAP Ariba. “In the year ahead, companies will move away from niche offerings that address pieces of the procurement puzzle towards integrated platforms.”

Technology will continue to drive the profession:

Automation, machine learning and artificial intelligence will continue to be buzzwords for the year ahead. “In embracing them, procurement organisations can perform transactional activities at much greater speed,” says Marcell Vollmer, chief digital officer at SAP Ariba. More importantly, technology will allow buyers to make smarter, more informed decisions that drive value and go beyond cost savings.

Read Full Article