Digital Ways

Digital transformation in procurement relates to the new applications and automation of procurement processes that increase the efficiency, compliance and value of the function. Algorithms, artificial intelligence (AI), robotic process automation (RPA), and machine learning (ML) are all emerging enablers for improving procurement applications and processes.  These solutions offer alert-up notifications as well as drill-down capabilities that improve procurement’s vigilance and reactiveness. Embracing 'Digital Ways' in the role of a Buyer is imperative to adapt to the evolving business landscape, enhance efficiency, optimize procurement practices, and make a substantial contribution to the success of the organization's supply chain operations. This approach empowers Buyers to become more agile, data-driven, and responsive to market dynamics, ultimately bolstering the organization's competitiveness and overall performance. By adopting digital technologies and practices in procurement and supply chain management, Buyers can achieve the following: E-Procurement Systems: Implementing e-procurement systems to automate the procurement process, encompassing requisitions, purchase orders, and approvals.Supplier Relationship Management (SRM) Software: Effectively utilizing SRM software for efficient supplier management, performance tracking, and improved communication.Real-Time Supply Chain Visibility: Leveraging technology to gain real-time visibility into the supply chain, monitoring shipments, inventory levels, and demand forecasts.Digital Marketplaces: Actively participating in digital marketplaces and online procurement platforms to connect with suppliers and access an extensive array of products and services. In this learning track, you will gain an in-depth understanding of the Digital Transformation of Procurement and explore the innovative RFID technology.