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At Cerasis we work with our shipper customers who procure items every day and have needs for inbound freight management as they secure those products from their vendors. Increasingly, as we work with procurement folks at these companies, we are hearing that technology for better communication and to create more efficiency. This is also true or understanding the flow of incoming goods at it relates to better timing on reorders as well as how procurement fits into the entire supply chain picture. The future of procurement is soley focused on cutting out wastes, better vetting, scale, and increase customer satisfaction and work flow thru improved communications. In short, like we stress with our customers who are in charge of supply chain or logistics, technology and expertise will allow the future of procurement to be all about staying strategic by getting out of the weeds and tactical execution of process. 

The Future of Procurement is Driven by Technology

In 10 years, your day-to-day job in procurement might be radically different. Compelled—and enabled–by the digital transformation of business, you might be spending much less time on administrative tasks and be able to focus on more strategic internal and external collaboration. You might be part of a smaller team performing only core functions. Or, if your title is Chief Procurement Officer, you might have been the driving force behind expanding your procurement organization’s size and increasing its strategic scope.

The art of future-gazing is in part a matter of setting a vision, and in part a matter of realistic observation. In 2010, Ariba, an SAP company, asked a group of procurement executives and thought leaders to set the vision. The resulting Vision2020 report was a landmark piece of bold ideas about where the function was headed in terms of organizational structure, supplier collaboration, and the rising importance of data.

Come 2015, it was time to take that vision and make some quantitative observations

Enter The Future of Procurement, an Oxford Economics study. Over 1,000 CPOs, VPS, directors, category managers, sourcing managers, buyers, and other procurement professionals from around the world participated in the survey—a mighty feat of collective future-gazing. And now it’s your turn. Have a look at the infographic below for a high-level view of the research. And leave a comment to let us know what do you think the future of procurement will look like 10 years from now…what do you want it to look like…and what are you doing to make it happen?

INFOGRAPHIC: The Future of Procurement

future of procurement

Source Digitalist Magazine