INTELLIGENT PROCUREMENT customers in transformational projects so their systems can react to supply issues autonomously and in real time – including communication with n-tier suppliers and contract manufacturers .
Digital transformation and rise of intelligent procurement Intelligent procurement solutions are the future because , to put it simply , there will always be more decisions to be made . And those decisions will continue to grow more complex while the window of opportunity in which to make them shrinks .
Chaplain says : “ Procurement teams are on the front lines , protecting companies from supply chain risk in addition to reducing costs . Yet , today , we see many procurement teams in continual ‘ triage ’ or ‘ firefighting ’ mode – dealing with disruptions and challenges to the extent that they lack time for strategic planning or collaboration .
“ Planners react to shifts in demand that happen more rapidly than before ; buyers react to more frequent disruptions , while finance guards against purchase price variances ( PPVs ) and impacts on revenue . The number of decisions that must be made daily force these professionals to be reactive rather than proactive .”
In this environment , dashboards and traditional methods of monitoring trends and making decisions aren ’ t enough . Procurement teams need intelligent solutions that can augment and automate day-to-day decisions . This will allow not only the team , but the entire enterprise , to be more responsive and strategic in a fasterpaced business environment .
Jag Lamba , Founder and CEO of Certa , agrees . Certa is a supplier and risk management software provider that takes the complexity and opacity out of working with third parties . According to Lamba , “ procurement needs to have its hands in a number of different systems for these various functions ”.
“ It will fall to procurement to take the leading role in ESG initiatives ”
JAG LAMBA , FOUNDER AND CEO , CERTA E procurementmag . com 55