How will AI and new technology shape the future of strategic sourcing and procurement?
New technologies, such as AI and Robotics, will lead to a much more efficient and effective strategic procurement. Administrative tasks will be fully automated, which allows more time to focus on strategic tasks. I believe that new technologies offer the possibility to fully integrate end-to-end processes and eliminate unnecessary process steps.
Through the increasing availability of data paired with predictive analytics, more information will be available to improve the decision-making process and base decisions on data instead of gut feelings.
What can be done in order to develop effective SRM?
I think effective SRM can be developed through integrating and jointly automating end-to-end (supplier to customer) processes. Robotics for example offers the opportunity to harmonise processes without changing current ERP systems.
In addition, supplier and customer need to share data and knowledge in order to improve collaboration in general.
Futuristic vision of workforce required in procurement. What skills will be needed?
Understanding data and information is a skill of increasing importance as this improves decision-making in general. However, empathy and social skills will not lose any of their importance, because in the end, strategic purchasing will remain a people business.
- Corporate Fuel Management at Lufthansa Group
- Management Consulting at PricewaterhouseCoopers
- Corporate Purchasing at Lufthansa Technik
- Bachelor of Science in Business Administration
- Master of Science in Finance and Accounting