The document discusses key trends in strategic sourcing, including the growing role of analytics, defining digital procurement, emerging digital technologies, and how procurement is changing. It notes that procurement will become more strategic and partner directly with business units using "touchless" processes. The COVID-19 pandemic has highlighted the need for more resilient supply chains, and procurement must focus on areas like category strategies, supplier partnerships, and an agile operating model. Organizations need to determine the right level of resilience and embed it throughout their supply chains.
Future of Procurement: The Technology Agenda SAP Ariba
Will technology be a game-changer for your procurement organization? Or just another tool for doing the same things, faster?
Oxford Economics surveyed more than a thousand procurement executives and non-executive practitioners around the globe for insights into what matters most to them, along with a look at the future of procurement. The result is a series of webinars and reports in key themes such as procurement collaboration, operations and measurements, technology, and human talent.
This presentation focused on The Technology Agenda, and featured Edward Cone, Deputy Director of Thought Leadership of Oxford Economics’ who reviewed the survey data. Here are some of the key topics covered in this presentation:
- Technology and it’s critical role to procurement’s progress, and which technologies have fundamentally changed the way the function operates
- New capabilities fuel internal collaboration and facilitate better partnerships with external suppliers
- Automation update and areas where automation plays a large role in core processes
- The future of automation from the executive perspective
- The value of automation for day-to-day operations from a practitioners view
- Technology powers risk management
- Strategies for measuring progress need a refresh – a new look at KPIs
- New technologies requires new skills
- Success hinges on tech capabilities
Accenture 2015 Global Risk Management Study: Capital Markets Key Findings and...accenture
Some 170 capital markets risk leaders contributed to Accenture’s 2015 Global Risk Management Study: Capital Market Report. See the attached presentation for how these leaders are working to bring operational risk back to the top of the business agenda. Visit www.accenture.com/riskstudy2015 to learn more.
Future of Procurement: The Technology Agenda SAP Ariba
Will technology be a game-changer for your procurement organization? Or just another tool for doing the same things, faster?
Oxford Economics surveyed more than a thousand procurement executives and non-executive practitioners around the globe for insights into what matters most to them, along with a look at the future of procurement. The result is a series of webinars and reports in key themes such as procurement collaboration, operations and measurements, technology, and human talent.
This presentation focused on The Technology Agenda, and featured Edward Cone, Deputy Director of Thought Leadership of Oxford Economics’ who reviewed the survey data. Here are some of the key topics covered in this presentation:
- Technology and it’s critical role to procurement’s progress, and which technologies have fundamentally changed the way the function operates
- New capabilities fuel internal collaboration and facilitate better partnerships with external suppliers
- Automation update and areas where automation plays a large role in core processes
- The future of automation from the executive perspective
- The value of automation for day-to-day operations from a practitioners view
- Technology powers risk management
- Strategies for measuring progress need a refresh – a new look at KPIs
- New technologies requires new skills
- Success hinges on tech capabilities
Accenture 2015 Global Risk Management Study: Capital Markets Key Findings and...accenture
Some 170 capital markets risk leaders contributed to Accenture’s 2015 Global Risk Management Study: Capital Market Report. See the attached presentation for how these leaders are working to bring operational risk back to the top of the business agenda. Visit www.accenture.com/riskstudy2015 to learn more.
Accenture 2015 Global Risk Management Study: Banking Report Key Findings and ...accenture
Accenture’s 2015 Global Risk Management Study: Banking Report provides the insights of 150 banking executives involved in the risk function. See the attached presentation for details of how the risk function in banking is repositioning itself to be a collaborative business partner. Visit www.accenture.com/riskstudy2015 to learn more.
Boost your bottom line and supply chain healthTradeshift
Global supply chains are treasure troves of working capital, but that cash flow often stagnates in the pipeline. Research shows that one proven way to free up stuck capital is by optimizing payables performance: when you optimize payables, you see higher returns and suppliers get paid quicker.
In 45 minutes, you’ll learn how to:
- Increase EBITDA while removing risk from your supply chain
- Implement a win-win approach to Dynamic Discounting, with 5 “must haves” for a successful early payment program
- Support and strengthen your supply chain simply and collaboratively
Vendor Selection Matrix - Capacity Management - Top 15 Vendors in 2016TeamQuest Corporation
Independent analyst report on the top 15 vendors in capacity management software and SaaS. More than 1300 IT buyers of capacity management software were surveyed and more than 20,000 data points collected and evaluated. Vendors are ranked in terms of:
*Vision & Go-To-Market
*Innovation & Partner Ecosystem
*Company Viability & Execution Capabilities
*Differentiation & USP
*Breadth & Depth of Solution Offering
*Market Share & Growth
*Customer Satisfaction & Mindshare
*Price vs Value
TeamQuest was ranked #2 overall and has the highest scores for customer satisfaction and price vs value in the industry.
Accenture 2015 Global Structural Reform Studyaccenture
Accenture’s 2015 Global Structural Reform Study – based on a survey of 131 banking, insurance and capital markets institutions across regions – confirms that, while institutions are investing in their response to Global Structural Reform (GSR), their plans still appear focused on meeting regulatory demands alone, rather than accounting for the more strategic implications of structural reform.
Highlights from the study's conclusions include:
- GSR is re-writing the financial services landscape
- Investment is clear, but strategy less so
- Three suggested principles for unlocking the potential of GSR
Download the report and visit https://www.accenture.com/accenture-2015-global-structural-reform-study.aspx to learn more.
Future of Procurement – Goodbye to Business as Usual: Transforming Operations...SAP Ariba
An interactive panel discussion on how procurement is changing and why old ways of working and measuring performance may not get the job done. Featuring Edward Cone, Oxford Economics’ Deputy Director of Thought Leadership and Jennifer Roberts, Senior Manager, Center of Excellence for Sonoco – a $5B global consumer packaging company. Gain insight into:
• Sonoco’s real-world perspectives, including a look at their supplier measurement program
• Your peer’s views on operations and KPIs from the Oxford global study of more than 1,000 procurement executives and practitioners
• Proven strategies and tactics to measure your success
Strategies to Future-Proof Procurement: Are you ready? Webinar SlidesSAP Ariba
What you'll learn:
Get insight from James Vespoli, the CPO of PNC, and Ed Cone, Deputy Director of Thought Leadership, of Oxford Economics as they explore the results of recent Oxford research on the future of procurement. Discuss how perspectives differ between roles, see signs of concrete changes in progress, and take back ideas on how to future-proof your team. You’ll discover:
• Whether the organisational structure of procurement will develop as it becomes more strategic.
• How procurement talent can be developed and what capabilities will drive change in the function.
• How technology and a collaborative mindset are transforming procurement.
• Why our KPIs and time investments are not always mirroring our vision and goals.
The Deloitte CIO Survey report presents the findings from our 2014 global survey, this year with responses from over 900 CIOs, from all major industry groups in 49 countries around the world.
This year’s survey focuses on the CIO as a business leader and a driver of growth through technology innovation. Organisations across the globe are setting their sights on stronger growth and, for many, technology investment is clearly a strategic priority. Digital, analytics and big data are taking precedence as technology is changing the way businesses operate and companies are adapting their operating models to reflect the emerging digital economy. But what role are CIOs playing in this new model?
Cyber Security: Take a Security Leap Forwardaccenture
High performing organizations align their security approach with the business objectives to improve security effectiveness across strategy, technology and governance.
Trends in Technology Services - Summer 2017Rebecca Rodl
Waterstone engaged with 25 technology-led companies over the past several months to capture the latest trends around Cloud, Services, and Customer Success. This document highlights key findings, perspectives, and insights.
- Understanding Demand Management Basics
- Planning a Demand Management Process
- Execution of Demand Management
- Conducting a Performance Review of your Demand Management Process (and KPIs)
How SME access to working capital reduces financial supply chain riskC2FO
Learn how you benefit from helping small and midsize businesses grow and invest in their operations — without increasing your supply chain risk
With global competition rising amid a growing economy, securing your supply chain is more critical than ever before. The C2FO Working Capital Outlook Survey provides detailed insight into how liquidity impacts global SME suppliers, their views on how their business will grow, and how well they can access working capital to meet your demands and fund that growth.
Survey includes responses from more than 2,000 small and midsize enterprises in the United States, the United Kingdom, Germany, France, Italy, China, and India.
Join us as our panel of world-class experts dives into Chief Procurement Office (CPO) Trends, what's coming and how to be ready and adapting to the C-Suite Agenda in 2020 and beyond. We will dive into:
1. What’s trending in all industries for the Chief Procurement Officer and entire Supply Team for your company.
2. Understand the leading-edge opportunities and changes coming at your C-Suite, and how Sourcing and Procurement aligns.
3. Identify emerging trend benefits and returns possible for CPOs and their team in 2020 and beyond.
4. Take away practical tips and strategies from the masters on how to capitalize on trends impacting procurement professionals in every industry.
Madison Park Group is a strategic M&A and capital raising advisor to the global software economy. Madison Park Group’s dedicated industrial technology team has advised on +40 successful industrial technology transactions and maintains strong relationships with all key strategic players. The firm’s supply chain management coverage focuses on applications catered to transportation & logistics, procurement and supply chain planning and analytics. The firm’s principals have sat on both sides of the table, advising disruptors, consolidators, and incumbents as they navigate strategic initiatives. Industry leaders trust Madison Park Group’s experience in the marketplace.
Accenture works with the leading agrochemical companies to annually benchmark supply chain and business performance. This report highlights the key findings and insights from our 2015 study, which focused on the quantitative aspects of performance within the crop protection segment.
Designing an End-to-End Ecosystem Approach to ProcurementRNayak3
In this whitepaper, we learn about the end-to-end ecosystem approach to procurement and consider how to develop key capabilities for capturing strategic value. Download Now!
Hi All
We received a lot of requests to share the content of the Community of Practice Event we had in Wipro on 10th Jun 2017 in collaboration with institute of Supply Management.
Sharing a document of Procurement 4.O which describes how Procurement of the current organization should be shaped up for tomorrow.
Procurement 4.0 - Journey Towards ExcellenceKrishan Batra
Hello friends,
As you all know we hosted a Community of Practice event in Bangalore on 10th June, in association with WIPRO. It was a very informative and interactive session. The discussion was about Procurement 4.0, Journey towards Excellence. We have been getting many requests from the people who were unable to attend the event to share some materials with them so that they know what the discussion was about. Attached to this message is Mr. Batra's presentation. Go through it to understand his concepts and ideas about Procurement 4.0
Thank you.
Next generation IT outsourcing and the global enterprise model (GEM)WGroup
Disruptive technologies such as cloud computing and the “as-a-service” model for software, infrastructure and platforms have led to fundamental changes in how IT services are organized, managed and delivered—whether they are outsourced, insourced or a combination. The reality that IT services can be delivered to anywhere on the globe via the “Cloud” has accelerated the commoditization of IT. Ubiquitous access to IT services has lessened business units’ dependency on internal IT and shifted the IT organization’s prime role from process excellence to technology and service innovation. This article discusses through WGroup's perspective how outsourcing can create value through changing the way business is done.
Accenture 2015 Global Risk Management Study: Banking Report Key Findings and ...accenture
Accenture’s 2015 Global Risk Management Study: Banking Report provides the insights of 150 banking executives involved in the risk function. See the attached presentation for details of how the risk function in banking is repositioning itself to be a collaborative business partner. Visit www.accenture.com/riskstudy2015 to learn more.
Boost your bottom line and supply chain healthTradeshift
Global supply chains are treasure troves of working capital, but that cash flow often stagnates in the pipeline. Research shows that one proven way to free up stuck capital is by optimizing payables performance: when you optimize payables, you see higher returns and suppliers get paid quicker.
In 45 minutes, you’ll learn how to:
- Increase EBITDA while removing risk from your supply chain
- Implement a win-win approach to Dynamic Discounting, with 5 “must haves” for a successful early payment program
- Support and strengthen your supply chain simply and collaboratively
Vendor Selection Matrix - Capacity Management - Top 15 Vendors in 2016TeamQuest Corporation
Independent analyst report on the top 15 vendors in capacity management software and SaaS. More than 1300 IT buyers of capacity management software were surveyed and more than 20,000 data points collected and evaluated. Vendors are ranked in terms of:
*Vision & Go-To-Market
*Innovation & Partner Ecosystem
*Company Viability & Execution Capabilities
*Differentiation & USP
*Breadth & Depth of Solution Offering
*Market Share & Growth
*Customer Satisfaction & Mindshare
*Price vs Value
TeamQuest was ranked #2 overall and has the highest scores for customer satisfaction and price vs value in the industry.
Accenture 2015 Global Structural Reform Studyaccenture
Accenture’s 2015 Global Structural Reform Study – based on a survey of 131 banking, insurance and capital markets institutions across regions – confirms that, while institutions are investing in their response to Global Structural Reform (GSR), their plans still appear focused on meeting regulatory demands alone, rather than accounting for the more strategic implications of structural reform.
Highlights from the study's conclusions include:
- GSR is re-writing the financial services landscape
- Investment is clear, but strategy less so
- Three suggested principles for unlocking the potential of GSR
Download the report and visit https://www.accenture.com/accenture-2015-global-structural-reform-study.aspx to learn more.
Future of Procurement – Goodbye to Business as Usual: Transforming Operations...SAP Ariba
An interactive panel discussion on how procurement is changing and why old ways of working and measuring performance may not get the job done. Featuring Edward Cone, Oxford Economics’ Deputy Director of Thought Leadership and Jennifer Roberts, Senior Manager, Center of Excellence for Sonoco – a $5B global consumer packaging company. Gain insight into:
• Sonoco’s real-world perspectives, including a look at their supplier measurement program
• Your peer’s views on operations and KPIs from the Oxford global study of more than 1,000 procurement executives and practitioners
• Proven strategies and tactics to measure your success
Strategies to Future-Proof Procurement: Are you ready? Webinar SlidesSAP Ariba
What you'll learn:
Get insight from James Vespoli, the CPO of PNC, and Ed Cone, Deputy Director of Thought Leadership, of Oxford Economics as they explore the results of recent Oxford research on the future of procurement. Discuss how perspectives differ between roles, see signs of concrete changes in progress, and take back ideas on how to future-proof your team. You’ll discover:
• Whether the organisational structure of procurement will develop as it becomes more strategic.
• How procurement talent can be developed and what capabilities will drive change in the function.
• How technology and a collaborative mindset are transforming procurement.
• Why our KPIs and time investments are not always mirroring our vision and goals.
The Deloitte CIO Survey report presents the findings from our 2014 global survey, this year with responses from over 900 CIOs, from all major industry groups in 49 countries around the world.
This year’s survey focuses on the CIO as a business leader and a driver of growth through technology innovation. Organisations across the globe are setting their sights on stronger growth and, for many, technology investment is clearly a strategic priority. Digital, analytics and big data are taking precedence as technology is changing the way businesses operate and companies are adapting their operating models to reflect the emerging digital economy. But what role are CIOs playing in this new model?
Cyber Security: Take a Security Leap Forwardaccenture
High performing organizations align their security approach with the business objectives to improve security effectiveness across strategy, technology and governance.
Trends in Technology Services - Summer 2017Rebecca Rodl
Waterstone engaged with 25 technology-led companies over the past several months to capture the latest trends around Cloud, Services, and Customer Success. This document highlights key findings, perspectives, and insights.
- Understanding Demand Management Basics
- Planning a Demand Management Process
- Execution of Demand Management
- Conducting a Performance Review of your Demand Management Process (and KPIs)
How SME access to working capital reduces financial supply chain riskC2FO
Learn how you benefit from helping small and midsize businesses grow and invest in their operations — without increasing your supply chain risk
With global competition rising amid a growing economy, securing your supply chain is more critical than ever before. The C2FO Working Capital Outlook Survey provides detailed insight into how liquidity impacts global SME suppliers, their views on how their business will grow, and how well they can access working capital to meet your demands and fund that growth.
Survey includes responses from more than 2,000 small and midsize enterprises in the United States, the United Kingdom, Germany, France, Italy, China, and India.
Join us as our panel of world-class experts dives into Chief Procurement Office (CPO) Trends, what's coming and how to be ready and adapting to the C-Suite Agenda in 2020 and beyond. We will dive into:
1. What’s trending in all industries for the Chief Procurement Officer and entire Supply Team for your company.
2. Understand the leading-edge opportunities and changes coming at your C-Suite, and how Sourcing and Procurement aligns.
3. Identify emerging trend benefits and returns possible for CPOs and their team in 2020 and beyond.
4. Take away practical tips and strategies from the masters on how to capitalize on trends impacting procurement professionals in every industry.
Madison Park Group is a strategic M&A and capital raising advisor to the global software economy. Madison Park Group’s dedicated industrial technology team has advised on +40 successful industrial technology transactions and maintains strong relationships with all key strategic players. The firm’s supply chain management coverage focuses on applications catered to transportation & logistics, procurement and supply chain planning and analytics. The firm’s principals have sat on both sides of the table, advising disruptors, consolidators, and incumbents as they navigate strategic initiatives. Industry leaders trust Madison Park Group’s experience in the marketplace.
Accenture works with the leading agrochemical companies to annually benchmark supply chain and business performance. This report highlights the key findings and insights from our 2015 study, which focused on the quantitative aspects of performance within the crop protection segment.
Designing an End-to-End Ecosystem Approach to ProcurementRNayak3
In this whitepaper, we learn about the end-to-end ecosystem approach to procurement and consider how to develop key capabilities for capturing strategic value. Download Now!
Hi All
We received a lot of requests to share the content of the Community of Practice Event we had in Wipro on 10th Jun 2017 in collaboration with institute of Supply Management.
Sharing a document of Procurement 4.O which describes how Procurement of the current organization should be shaped up for tomorrow.
Procurement 4.0 - Journey Towards ExcellenceKrishan Batra
Hello friends,
As you all know we hosted a Community of Practice event in Bangalore on 10th June, in association with WIPRO. It was a very informative and interactive session. The discussion was about Procurement 4.0, Journey towards Excellence. We have been getting many requests from the people who were unable to attend the event to share some materials with them so that they know what the discussion was about. Attached to this message is Mr. Batra's presentation. Go through it to understand his concepts and ideas about Procurement 4.0
Thank you.
Next generation IT outsourcing and the global enterprise model (GEM)WGroup
Disruptive technologies such as cloud computing and the “as-a-service” model for software, infrastructure and platforms have led to fundamental changes in how IT services are organized, managed and delivered—whether they are outsourced, insourced or a combination. The reality that IT services can be delivered to anywhere on the globe via the “Cloud” has accelerated the commoditization of IT. Ubiquitous access to IT services has lessened business units’ dependency on internal IT and shifted the IT organization’s prime role from process excellence to technology and service innovation. This article discusses through WGroup's perspective how outsourcing can create value through changing the way business is done.
Source-to-Pay: Advancing from Pure Cost Optimization to Value GenerationCognizant
The majority of businesses treat their sourcing, procurement and payment (S2P) processes as non-core functions. As a result, S2P does not receive the strategic or capital focus it deserves. By employing Cognizant's S2P Transformation Framework, global businesses can transform their S2P function from a mere support activity to a strategic business enabler that helps eliminate bottom-line erosion, increase competitive strength, and maintain the loyalty of customers and suppliers alike.
Revolutionizing the Digital Transformation Office - Leveraging OnePlan’s AI a...OnePlan Solutions
In today’s rapidly evolving business landscape, digital transformation is not just an option; it’s a necessity for staying competitive. However, managing a Digital Transformation Office (DTO) presents unique challenges, from aligning strategic goals to efficiently allocating resources. OnePlan’s Strategic Portfolio Management Platform, powered by advanced AI, offers a comprehensive solution to these challenges, enabling managers to excel in their roles and drive successful digital transformation. Join us in this enlightening webinar to discover how OnePlan can revolutionize your management approach.
Key Takeaways:
Strategic Alignment and Decision Making: Learn how OnePlan’s platform facilitates the alignment of digital transformation initiatives with business objectives, ensuring that every project contributes to the overarching strategy.
Resource Optimization and Forecasting: Discover the tools and methodologies OnePlan offers for optimal resource allocation and forecasting, maximizing efficiency, and minimizing waste.
Risk Management and Adaptability: Understand how OnePlan’s AI capabilities can help your DTO navigate uncertainties and adapt to changes swiftly and effectively.
Enhancing Collaboration and Transparency: Explore how OnePlan promotes a culture of collaboration and transparency across departments, crucial for the success of digital transformation efforts.
Driving Innovation and Competitive Advantage: See how integrating OnePlan’s Strategic Portfolio Management Platform and AI into your management practices can not only streamline operations but also foster innovation and create a sustainable competitive advantage.
This webinar is for managers, leaders, and anyone involved in driving digital transformation within their organizations. Whether you’re just starting your digital transformation journey or looking to enhance your current strategies, OnePlan’s platform offers the tools, insights, and support needed to achieve success in the digital era.
“Industrialization” of sourcing and procurement operationsGenpact Ltd
The sourcing and procurement function is increasingly mandated to contribute to the growth and agility necessary in these volatile and uncertain times. Its current operating models are, however, seldom able to deliver on these expectations—often lacking enough resources to tackle at scale emerging challenges, such as analyzing global and fragmented supply chain risks, as well as enabling frequent changes of company “perimeter” brought on by geographic expansion, M&A, and so on.
Digital Procurement Services: Harness the power of technology to optimize procurement processes, drive efficiency, and unlock new levels of agility and cost savings.
Strategic Intelligence in Growth Stage Technology Businesses - Dave Litwiller...Dave Litwiller
Generating Actionable, Data-Rich Insights about Technology, Markets, and Business Models to Optimize Strategic Impact in Rapidly Expanding and Changing Environments
In early 2020, Geisinger Health launched a multi-year digital transformation program to transform patient and caregiver experiences. The program sought to harness best-in-class technology solutions and innovation from the digital health ecosystem, and also envisioned the transformation of IT infrastructure to support digital health experiences. When the pandemic struck in early 2020, Geisinger’s leadership reaffirmed their commitment to the digital transformation road map and the strategic technology investments required to accelerate the transformation. To implement the road map, Geisinger established a Digital Transformation Office (DTO) to oversee the implementation of the road map, provide centralized governance, and enable technology partner selection for key aspects of the proposed road map. With broad cross-functional involvement and collaboration, the DTO was able to accelerate the transformation journey, improve digital engagement, and deliver millions of dollars in benefits.
Learning objectives
1) Identify best practices and learnings from how a large integrated health system is driving a multi-year digital transformation roadmap
2) Discover how technology is enabling digital transformation at the front and back end of healthcare operations and best practices in technology strategy and technology partner selection
3) Recognize how centralized governance can accelerate transformation and maximize value from technology investments
Acorn Recovery: Restore IT infra within minutesIP ServerOne
Introducing Acorn Recovery as a Service, a simple, fast, and secure managed disaster recovery (DRaaS) by IP ServerOne. A DR solution that helps restore your IT infra within minutes.
Have you ever wondered how search works while visiting an e-commerce site, internal website, or searching through other types of online resources? Look no further than this informative session on the ways that taxonomies help end-users navigate the internet! Hear from taxonomists and other information professionals who have first-hand experience creating and working with taxonomies that aid in navigation, search, and discovery across a range of disciplines.
Sharpen existing tools or get a new toolbox? Contemporary cluster initiatives...Orkestra
UIIN Conference, Madrid, 27-29 May 2024
James Wilson, Orkestra and Deusto Business School
Emily Wise, Lund University
Madeline Smith, The Glasgow School of Art
0x01 - Newton's Third Law: Static vs. Dynamic AbusersOWASP Beja
f you offer a service on the web, odds are that someone will abuse it. Be it an API, a SaaS, a PaaS, or even a static website, someone somewhere will try to figure out a way to use it to their own needs. In this talk we'll compare measures that are effective against static attackers and how to battle a dynamic attacker who adapts to your counter-measures.
About the Speaker
===============
Diogo Sousa, Engineering Manager @ Canonical
An opinionated individual with an interest in cryptography and its intersection with secure software development.
This presentation by Morris Kleiner (University of Minnesota), was made during the discussion “Competition and Regulation in Professions and Occupations” held at the Working Party No. 2 on Competition and Regulation on 10 June 2024. More papers and presentations on the topic can be found out at oe.cd/crps.
This presentation was uploaded with the author’s consent.
2. • Executive summary
• Role of Analytics
• Defining digital procurement
• Digital Technologies and Capabilities
• The digital imperative
• Trends in procurement
• Post COVID era
• Conclusion
3. Executive summary
The sourcing ecosystem across all organizations has grown
significantly in recent years. More and more outsourcing projects have
been initiated and realized, creating significant complexity alongside
the requirement for agility and flexibility. In parallel, governance and
regulatory costs in financial institutions have increased. In
consequence, the sourcing operating models used in organizations are
no longer fit for purpose.
4. Today, organizations face many diverse and ever- changing trends and
moves in sourcing, which have a high impact on the sourcing
operating model. Instead of implementing all actions, organizations
need to focus and prioritize so that they can achieve effective
transformations and benefits for their business
To realize and maximize the potential benefits of the sourcing trends
and moves available, the Deloitte “Sourcing Trend Management”
approach provides proven methods and tools to target actions
and provide the greatest benefit to organizations. Our approach leads
organizations towards a more efficient, less complex and less cost-
intensive sourcing operating model.
5. Key Trends in strategic sourcing
Role of Analytics
• Advanced analytics-enabled spend-intelligence solutions can offer
deeper category insights to uncover opportunities in strategic
sourcing of commodities—particularly for those with volatile
pricing caused by the fluctuating cost of raw-material inputs.
• Disparate data sources can be leveraged to better predict the
commodity prices.
6. Defining digital procurement
Digital procurement is the application of disruptive technologies that enable
Strategic Sourcing (S2C) to become predictive, Transactional Procurement
(P2P) to become automated, and Supplier Management (SM) to become
proactive.
• Categorize and manage spend in real time, leveraging machine learning
• Predict demand with artificial intelligence
• Know landed cost for any commodity for all alternate countries of origin
• Predict future sources of supply
• Act on timely alerts from all negotiated agreements (e.g., indexed pricing,
penalties, renewals) through smart contracts
7. Digital Technologies and Capabilities
The following digital solutions and capabilities have entered the maturing phase;
CPOs that have not already embraced them for competitive advantage should
expect them to quickly become table stakes:
• Cognitive computing and artificial intelligence
• Intelligent content extraction
• Predictive and advanced analytics
• Virtual reality and spatial analytics
• Cyber tracking
8. • There is no end in sight to the growing pace of technological innovation fueling
an expanding pipeline of digital procurement solutions.
• Procurement leaders should expect a rapid pace of change and continued
evolution of the procurement function.
• Leaders that are able to adopt these solutions have the opportunity to execute on
their main missions with radically greater insight and efficiency.
9. Trends in procurement
• Procurement’s contribution to the overall organizational strategy will create competitive
advantage
Leading procurement functions will become part of an organization’s value stream and will be
more influential in contributing to the overall business strategy, growth agenda, and competitive
advantage,” EY says, adding that procurement leaders will be expanding their remit from a focus on
cost leadership to enabling innovation, agility, and supply certainty
• Procurement will be a smaller, more agile function that partners directly with business units
More activity will take place in the organization’s “virtual center,” EY predicts, and with people
who are geographically embedded within business units—thus meeting the need for increased
collaboration
10. • “Touchless” procurement will gain in popularity over the next 24 months.
Captured via IoT, procurement data will be used to support real-time
tracking and monitoring of outcomes through continuous feedback
loops across assets. “Asset-intensive industries will effectively link this
data across the enterprise and connect to suppliers.
• COVID will continue to create problem areas
Of course, this all comes with the caveat that in some parts of the
world, and the U.S. in particular, the COVID crisis is holding steady or
even getting worse, and that will continue to have a major impact on
procurement efforts around the globe, according to Spend Matters.
11. Post COVID era
The COVID-19 pandemic has put an enormous strain on global supply chains, at times halting
manufacturing while shutting down airports and seaports, interrupting delivery of raw materials
and finished goods. At the pandemic’s onset, procurement departments switched to crisis-
management mode to help companies alleviate disruptions, including sourcing personal protective
gear for employees and helping smaller suppliers manage their cash flow.
Our analysis suggests that procurement could gain the most by focusing its strategic initiatives in five key
areas
• strengthening supply-chain resilience
• zero-basing the design of category value-creation strategies
• investing in supplier partnerships and innovation
• transforming to an agile operating model
By proactively making these changes, procurement leaders can not only counter some of the worst
effects of the crisis, but can also set themselves up to prosper in the future.
12. Conclusion
Organizations must determine the right mix of resilience that they want
to build into their products and revisit their supply chain strategy to
ensure that resilience is embedded into research and development,
product design, and planning. By focusing on building resilience
comprehensively, and ensuring it is not seen as an afterthought,
organizations can be better prepared for whatever the future brings