Sustainable procurement technology
Big data analytics
TOP 10
WATCH NOW
04
Sustainable procurement technology
Battling the challenges of integrating sustainability and ESG into procurement processes and decision-making , while continuing to meet stakeholder requirements , procurement functions are looking to organisations that are developing platforms and processes to ensure they are successful .
Such platforms and processes can help organisations to better source materials , drive ciruclarity within their operations as well as trace their carbon emissions . Ultimately these technologies drive greater transparency within the function and the wider supply chain .
03
Big data analytics
Helping procurement professionals make strategic decisions , big data analytics is the analysis and use of information that is of extreme size and complexity .
“ At one midsize manufacturing company with approximately US $ 2bn in annual revenue , for example , procurement had data on more than 20,000 transactions for a single category ,” explains McKinsey .
With the procurement function generating vast amounts of data , big data analytics can benefit procurement functions when it comes to risk management , predictions , compliance , and collaboration .
WATCH NOW
34 December 2023