When it comes to determining the most effective of procurement companies, the crucial factor comes down to technology. While technology has always played an important role, it will be the digital transformation in procurement that separates the wheat from the chaff when it comes to world class performance and world class operations.

1. Why Digitalization is Raising
the Bar for Transportation
Procurement

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5. When it comes to determining the
most effective of procurement
companies, the crucial factor
comes down to technology. While
technology has always played an
important role, it will be the digital
transformation in procurement
that separates the wheat from the
chaff when it comes to world
class performance and world
class operations.

6. Digital supply chain
procurement comes in the
ability to outpace and
outperform companies that
aren’t taking advantage of the
technology.

7. Seeing the Difference with Digital
Procurement

8. There are a number of companies who have benefited from digital
procurement services across a wide number of industries.
However, with their 55,000 TEU's spread out over 6,000 shipping
lanes, Akzo found it difficult to use this volume to obtain
competitive ocean freight rates according to a case study from
Xeneta.
AkzoNobel, for example, a multi-product, multi-divisional and
multi billion dollar global chemical company, ship a wide array of
polymers, inorganic and organic chemical products from their 43
factories worldwide, with an annual container usage of 55,000+
TEU's.

9. Actionable data offers invaluable insights
for companies looking to optimize their
operations. The final result is improved
operational efficiency combined with
reduced operating costs which can make
a considerable difference for any business
that’s seeking to do more than simply
break even.

10. Digital Procurement Trends:
Putting Your Customers First

11. Digital procurement trends have also
lent a hand in letting companies cater
more to their customers’ needs.

12. Past technology-driven transformations
automated processes within and between
enterprises. In contrast, digital
transformation uses technology to engage
internal and external customers through
interactive cloud-based tools and portals, to
provide better service to stakeholders, and
to leverage big data and predictive analytics
for better, faster insight,
- Hackett Group

13. Access to data
in real time
means creating
a predictive or
“what-if” model
which can be
invaluable to
risk mitigation
and
management.

14. Knowing what
could happen, can
make the difference
in actions taken if it
does happen.
Predictive modeling
is just one of the
many advantages
to be gained by
having access to
more data in a
timely manner.

15. Digitalization Drives Change

16. The freight industry has been fairly
static for quite some time, even at the
risk of becoming stagnant. Digital
procurement and digitalization in the
industry are changing that. In fact, it is
the digital transformation that is
increasing the speed of change.

17. As companies gain access to
more efficient practices,
information and actionable
data, the pace of
technological evolution is
accelerating as is the speed
of adoption and adaptation to
these new technologies.

18. Analytics-driven insight, or a procurement
function that relies on big data and
advanced analytics to drive insight and
bolster decision-making The hallmarks of
information-centric, world-class
procurement organizations are the
presence of a sophisticated
information/data architecture that makes
effective data analysis possible
- Hackett Group

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20. ROI - A Self Fulfilling Strategy

21. Return of Investment represents a major consideration for most
companies when it comes to implementing new technologies.
The shorter the ROI, the faster companies can start making a
profit on the new changes.
However, even the ROI for the world-class group is starting to
slow down. As cost reduction and savings are expected to level
out over the new few years, companies, even world-class, will
have to find other methods of creating value.
According to the study, for world-class procurement groups that
embrace digitalization and establish a digital procurement
system the ROI is significantly higher.

22. From start to finish, every piece of useful
information that can be gleaned needs to
be marked, filed, and processed into
something useable. Understanding this
and implementing it will create the
hallmark for success, while failure to do so
will put companies at risk of being
outmoded and outdated.

23. However, as always we must be
mindful of the training needed to
make this a reality. The intent is not to
have misplacement of workforce, but
rather train the workforce to think
differently by understanding how
digital procurement practices can
improve and optimize everyday work
tasks.