Five Top Procurement Trends 2019: Cloud, Blockchain and AI to Dominate
“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.”
One of the largest changes will be cloud-based collaboration. Cloud solutions will enable real-time updates to all your company’s data so at any given moment you’ll know exactly what is going on within your procurement department. “Increased collaboration will allow buyers to have a holistic view of prices and products, which, will help sourcing managers to make an informed decision on supplier and product selection. While suppliers will be able to plan their inventory and production, accordingly, helping in achieving cost savings and efficiencies while simultaneously reducing risk and waste.”
2019 will give you a more streamlined view of your overall supply chain as well as integrated P2P solutions with a cloud-based platform. This next year will bring more machine learning that will help deliver smarter and more efficient insights to procurement.