DIGITAL PROCUREMENT
Digital
Procurement
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platform for a successful digital workforce . “ For example ,” says Rose , “ one of our global retail clients had a high volume of low-value purchases . Those purchases in the tail spend offered little payback on time invested by procurement team members .
“ The retailer chose to deploy automated intelligent negotiation technology to rapidly engage with vendors , negotiate terms and place orders .
“ The technology enabled the retailer to address third party spend that wasn ’ t being touched by procurement and unlock millions in untapped savings .”
Rose cites another example – that of a client in the oil and gas sector , whose procurement team KPMG helped deploy advanced AI-based decision-making tools .
“ The solution helped it prioritise procurement projects and allocate resources effectively ,” Rose says . “ It also helped it determine where existing supply solutions might exist , and to prioritise this in the work stack , thus delivering high singledigit improvements in efficiency .”
The good news , says Rose , is that technology has the capability to deliver a welter of such opportunities for procurement , “ be this driving more innovation from the supply base , orchestrating ESG in the supply chain or reducing risk back to source ”.
He adds : “ Whatever form that value takes , procurement will need to harness digitalisation and be a catalyst for change . It will also need to continuously learn , innovate and transform .”
THis , he says , has “ fundamental implications ” for the skills required in the future digital procurement workforce .
76 December 2023