Supplier Diversity

Leading Procurement into a Digital Future with Analytics

Procurement has been primarily focused on buying products as directed by others, but it has had little involvement in things like strategy development and innovation. That is changing as the procurement function moves toward digitization and using insightful analytics for enhancing the organization’s supply chain and strategizing processes.
— By Betty Armstrong

The role of procurement has historically been finding the products as directed by company departments at the cheapest price. Procurement teams usually did not participate in strategic planning and innovation. Now the function is moving in the same direction as other functions by automating manual tasks and using data and analytics to streamline supply chain processes, mitigate supply chain risks, and become a full partner in organizational strategy development processes.

Forward-thinking procurement professionals are embracing ownership of digitization to achieve business goals an...

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