3 day masterclass FOCUSED on How to Effectively Transform Your Procurement and Sourcing Functions Digitally
Procurement is a purchasing process that controls quantity, quality, sourcing and timing to ensure the best possible total cost of ownership. Procurement professionals are nowadays key member of firm’s core team and are actively participating in new product development, managing supplier risk and sustainable procurement.
With the emergence of Digital technologies & tools such as Artificial Intelligence, Cloud, Mobile, Blockchain, Robotics, Big Data and Quantum Computing, there is a huge demand and requirement for procurement departments to transform digitally
As more sourcing and procurement teams implement digital procurement tools, technologies, applications and strategies, the benefits that come from doing are also become increasingly apparent. Not only does digital procurement transformation help companies achieve tremendous cost savings, it enhances speed, control and efficiency across all source-to-pay and procurement activities, improves speed-to-value and significant ROI, provide real time visibility and monitoring across the supply chain, drives higher performance and productivity, enhance customer and service user experience whilst providing actionable insights for procurement leaders to make better decisions, amongst many other benefits.
That said, the challenges facing procurement teams when it comes to planning and implementing a digital procurement transformation strategy is complex and ever evolving and only when these challenges are addressed can procurement teams reap the full benefits of digital procurement transformation