Digitalisation is a big deal in the world of logistics and warehousing right now. With industry world-leaders such as FedEx announcing a partnership with Microsoft to fully digitalise its supply chain , companies are waking up to the fact that when applied at all aspects of the supply chain, business intelligence has become the major driver of big cost savings and efficiencies.
With that in mind, how can companies make that step change to procurement digitalisation to ensure that they are on track with the tools needed today and remain well-positioned for future needs?
Scale-up your skillset
As previous resistance to change within the industry wanes, one of the biggest challenges facing supply chain procurement teams is the access to suitable technology and the skill sets required.
Deloitte’s Global CPO recent report revealed that “the confidence level among CPOs on the ability of procurement teams to deliver on strategy has slipped from 49% last year to 46% this year” — further highlighting the need for business intelligence tools to complement and fill in the gap for purchasers as we head further into the digital age.
Integrate business intelligence for more effective procurement
Historically, sourcing and procurement professionals have been targeted and focused on cost-cutting. However, the recent changes in market demands and uplift in online consumer buying trends — as a direct result of the Covid-19 pandemic — calls for a more strategic approach.
By incorporating business intelligence systems such as our SmartPad online procurement tool, the complete purchasing journey can form a seamless auditable trail — allowing for complete control over budgets and real-time data analysis at the touch of a button.
CSR also benefits from digitalisation
As supply chains become more interconnected and the influence of technology continues to shape our changing environment, procurement technology is also helping to deliver on CSR targets.
Streamlined suppliers, smart ordering processes and integrated data eco-systems all have a part to play in reducing our carbon footprint and opening up new opportunities for sustainable sourcing.
For a free digital procurement assessment and audit to highlight the benefits of our business intelligence tools, or to arrange a 1-2-1 demo, please get in touch.