New Roles for Procurement Through Digitization

The procurement function is undergoing rapid digitization, and the transformation is an earthquake of change. The entire process is being shaken up, and now is the time to reinvent in order to avoid being left in the rubble.
— By Sharon Ross

Procurement (sourcing and purchasing) has made some shifts toward implementing technologies to improve the processes and bring others into an efficient decision-making model. Procure-to-pay, smart contracts, mobile technology, the cloud, sensors, predictive analytics and other technologies are changing the function in radical ways. Some analysts predict procurement will be mostly digitized in the near future, making....