New White Paper: The transformation of Procurement in the Digital Value Economy.
Have you started purchasing in bright HD colour – or are you still working in Black and White? As digital networking expands, the pressure to innovate increases, and development processes continue to accelerate, procurement organisations need to change to meet the new challenges. That means moving out of the era of “black and white” purchasing into full HD colour spectrum. In future, procurement organisations will need to grow from their current auxiliary role as buyers and auctioneers into relationship managers who create value as networked innovation scouts and coordinators of digital eco-systems. This represents a far-reaching transformation – and a crucial one inasmuch as 70% of digital innovations in industry are delivered though the supply chain.
Classic supply chain functions are at the forefront of business areas feeling the pressure to adapt as digitisation gathers pace. As demands increase in a resource-scarce environment, so too does complexity arising from new technologies, expanding thematic breadth accompanied by increasingly deep involvement, and ever more dynamic business models; that all of this is happening while the operative workload remains heavy barely needs mentioning. Yet precisely in this intensely challenging period, procurement organisations need to make the transition from their classic role as simple buyers to playing a proactive part interfacing between internal and external partners. We explain the necessity of this transformation from a purely operative organisation into a truly strategic innovation network with our five drivers of change in procurement.