Contact centres of the past used to belong to the company’s support division and provide answers to the customers’ questions, whenever available and at the expense of the customers’ patience. Nowadays, the business decisions belong to the customers.
The rewards for procurement professionals that successfully leverage IoT are significant. If companies can effectively identify and manage their costs and mitigate risk they will be able to build corporate resilience.
For all the attention placed on the economies of China, India, Japan, Korea and their neighbours, I’d suggest that western business is still learning about the east. And perhaps there’s more to learn than gets recognised.
Technology has actually been important to procurement transformation for more than two decades, and that importance continues to grow. Today, much of the buzz relates to so-called “big data,” as it should, since therein lies great potential for procurement to dramatically raise the value the function provides.
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