Procurement Transformation is under way, and in addition to processes and people, many organizations are considering implementing a Source-To-Pay (S2P) solution in the next 18 months. The market is evolving incredibly fast with innovations like Artificial Intelligence, Robot Process Automatization and it’s hard to remain up to date.
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On display in the Berlin Air Show in June 2016 was ‘Thor’ – the small Airbus marvel that is the world’s first aircraft wholly produced by additive manufacturing (AM). Windowless weighing in at just 21 kilos (46 pounds) and less than four meters (13 feet) long, the drone Thor – short for “Test of High-tech Objectives in Reality” – resembles a large, white model airplane.
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The future of work is at the heart of every major socio-economic-political debate raging around the world today. All of these discussions – be they about walls across borders, migrants landing on the beaches of Southern Europe, surveillance policies in Xinjiang, hard or soft Brexits, taxi services in Paris or the concentration of wealth among the 1% – are rooted in the topic of the nature and distribution of work. From work, and what is derived from it – money –comes power.
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To get a sense of the potential of digitization in procurement, picture this: It’s 2020. Hybrid cloud solutions, RPA and blockchain are in place. P2P is highly streamlined with zero-touch options. As a next-gen Chief Procurement Officer, your day starts with browsing through a virtual supplier screen that displays a status report on expiring contracts, feedback from suppliers on contractual negotiations, RFX launched on open markets and so on.
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