Digital technology has come to procurement, according to a new research study.
In new Procurement Key Issues research from The Hackett Group, between 30 and 40 percent of respondents say that digital transformation has had a “high impact” on how they are meeting objectives and enhancing performance. That’s a significant advance over the traditional role of procurement, which has largely been viewed by top management as a means of cutting supply-chain costs. Advanced analytics, artificial intelligence and robotic process automation are among the tools that procurement organizations are just beginning to embrace. Yet many companies still lack the vision and long-term plan to capitalize on the trend, according to Chris Sawchuk, principal and global procurement advisory practice leader with The Hackett Group. On this episode, he discusses how the changes are affecting the profile of the modern-day procurement professional, and what companies must do to take full advantage of the technology that’s available to them. Hosted by Bob Bowman, Managing Editor of SupplyChainBrain.
Look for a new episode of the podcast, which can be downloaded or streamed, every Friday on the SupplyChainBrain website and iTunes.
Hackett’s latest key issues study on “Building Next-Generation Capabilities” for chief procurement officers.
Timely, incisive articles delivered directly to your inbox.