Procurement Trends 2019: Technology and digitalisation are dramatically changing customer experiences and expectations. Within the rapidly changing and increasingly computerised world, procurement has evolved from an operative, administrative system to a more strategic function. To match the pace of continuous evolution, the purpose of procurement has changed from cost-cutting to value generation.
2019 is set to be a seismic year, with changes that will not only add value to procurement processes, it will also give it a more modern outlook. With these industry evaluations and analysis, here's a forecast of possible upcoming trends in the procurement function that could help us gear up with for the approaching year.
1 Supplier Rationalisation
2 Blockchain
3 Cloud-based collaboration
4 Data based decision making
5 Next-gen technologies and automation
