When it comes to the priorities of procurement chiefs, digitalisation features high on the list. In Procurement Leaders CPO Challenger Guide 2019, it was identified as the second most important priority in 2019.
However, while that is the case, making progress has been challenging.
To try and support procurement chiefs and help light the way forward, Procurement Leaders has pulled together a cross-industry group of experts in a Collaborative Value Creation (CVC) group to look at this topic in detail and come up with some solutions that can be utilised by the whole community.
Through some initial calls, participants outlined the projects they are currently working on, which include applying robotic process automation in procure-to-pay and source-to-pay, as well as implementing real-time data analytics.
Because of the variety of projects that members of the group are working on, their efforts have so far focused on finding challenges and issues that they have had in common. One area that was quickly identified as an area of common interest was in developing a digital strategy, which is an integral part of the whole digitalisation journey.
The challenge for the cohort – and, indeed, the broader procurement community – is assessing the pacing and ambition of a strategic roadmap; understanding what is achievable in the short term to more accurately predict the function’s future ability.
Procurement Leaders recognised the problem of assessing procurement’s current state during its digitisation work with members in 2018 and, as a result, built a Digital Readiness Assessment (DRA).
The CVC cohort agreed that reviewing the DRA would be an appropriate starting point to then decide the next steps:
Look out for developments to come out of this group over the following months where these insights will hopefully help procurement effectively pursue its digitalisation efforts faster than ever before.
Procurement Leaders members who would like to register their interest in taking the Digital Readiness Assessment, please email Alex Johnston (a.johnston[at]procurementleaders.com).
The CVC includes digital procurement experts from the following companies:
This article is a piece of independent writing by a member of Procurement Leaders’ content team.