Future proof procurement: The road towards a future-proof purchasing function
Digitization is part of every day’s business for many organizations. Procurement professionals around the world stand on the threshold of a new age. The old paradigm of cost reduction and cost efficiency is drawing to a close. New and revolutionary concepts are spinning from the frenzied technological leaps of our time; especially in digital transformation. In this dynamic, complex and disruptive era, procurement leaders and experts the world over are searching for a secure, successful future.
Procurement as we know it will not exist in the future at all. It’s not the question if procurement will undergo a radical reform, but when. Robots and algorithms will increasingly determine procurement processes. There is no longer one future on the horizon, at least not from a current vantage point. Purchasing experts generally outline four possible scenarios when it comes to the future of procurement: ‘R.I.P. Procurement ‘,’Procurement Primacy’, ‘World of Project Economy’ and ‘The Creative Agency’. These scenarios help to determine the specific consequences for the individual purchasing situation of organizations.
The future disruption and a future proof procurement function is central to the annual Young Procurement Professionals conference on November 9, 2018. YPP organizes the conference this year in collaboration with KPMG Advisory. During the conference a number of procurement experts will share their vision on the future course of procurement.
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