The procurement profession is embracing technologies that align with Industry 4.0. These technologies are revolutionizing risk management, procurement processes, and the ability to identify opportunities in the supply chain. - By CECIL PARANG
Procurement has been one of the last functions to experience tech-based changes, yet now it is focused on the best strategies for integrating tech into sourcing, purchasing, supplier relationship building, and supply chain management. Success relies on incorporating the increasing sophistication of technology, like data analytics based on real-time data, supplier risk monitoring, and artificial intelligence (AI) to support decision-making.....