Training a company’s team members is a foundational step in running a company, one that is often forgotten when busy times hit. It shouldn’t be. Putting the time and effort into designing a training program that suits the unique needs of procurement will drive more effective results in less time. Employees will be better equipped to manage the various situations and surprises that sourcing across numerous categories brings about.
When companies start to consider adding strategic sourcing to their regular business processes, they often overlook a number of critical considerations. Chief among these are the benefits of a third-party support and – even more crucially – the process of aligning procurement with this new methodology.
One of the perennial buzzwords in the Automation Industry is scale. Researchers, providers, industry-watchers and the media in general are focussing on the nirvana of delivering Robotic Process Automation (RPA) at scale. This is most likely because there is less success in the industry than was expected…far less.
There has been a lot of buzz about “cognitive procurement,” the application of artificial intelligence (AI) to support buying goods and services to free up humans to handle valuable procurement functions that AI cannot manage.
The same advanced technologies that are making procurement smarter, more efficient and more data-driven, can be used to make outsourcing relationships leaner, more profitable and more advantageous.