Reinventing Procurement: From Cost Center to Innovation Driver
Procurement probably isn’t what springs to mind when discussing digital transformation.
Historically, procurement has often been viewed as a cost center. Today, after years of social, economic, and political upheaval, procurement is transforming into a strategic function, and playing a crucial role in helping organizations achieve their broader business goals.
Todd Heimes, worldwide director and general manager of Amazon Business, sat down with the MIT-SMR Connections team to discuss how and why procurement is moving toward a more digitized, automated future ripe for innovation, and what Amazon Business is doing to support this transformation. Topics include:
- Insights into the various technologies — including artificial intelligence (AI), machine learning (ML), big data analytics blockchain, and automation — that have the potential to vastly increase procurement efficiency and innovate supplier relationships
- The increasing use of data and analytics tools as organizations pursue a more sophisticated technical footprint, and the tech savvy talent needed to support these initiatives
- The benefits — and challenges — of digital transformation, such as identifying the resources, talent pool, and the internal buy-in needed to move procurement into the future
Download the Executive Interview as we rethink what’s possible for procurement.