Today, the procurement function is facing a sea change powered by rapid advancement and convergence among several disruptive technologies — Artificial Intelligence, Internet of Things, Blockchain, 3D printing, and more. We need to take an initial look at how procurement professionals see these technologies reshaping their function in the years immediately ahead.
Procurement Function —like most other functions —finds itself operating in an environment where significant internal and external trends are changing the way of operation and delivering value. Procurement should be actively working to make these shifts over the next two to three years. As concerns about corporate-function drag escalate and companies respond faster to market shifts through asset-light strategies, procurement must accelerate its support to continue to be a valued partner to the business.