Procurement has been primarily focused on buying products as directed by others, but it has had little involvement in things like strategy development and innovation. That is changing as the procurement function moves toward digitization and using insightful analytics for enhancing the organization’s supply chain and strategizing processes.
By Betty Armstrong
The role of procurement has historically been finding the products as directed by company departments at the cheapest price. Procurement teams usually did not participate in strategic planning and innovation. Now the function is moving in the same direction as other functions by automating manual tasks and....