| | DECEMBER 20228CIOReviewIN MY OPINIONBy Eric Dulin, Global Director of Procurement, Yum Digital and TechnologyWIN-WIN-WIN, THE IMPORTANCE OF COLLABORATIVE PROCUREMENT DURING THE RESTAURANT INDUSTRY'S DIGITAL METAMORPHOSISA recent Forbes article from February 2022 highlighted that a major global restaurant brand had set an industry development record and doubled digital sales in two years. The company mentioned had their sales reach $22 billion in fiscal 2021, an increase of 25 percent over 2020. This was not a small company. To suddenly drive 50 percent of revenue through digital channels in less than two years, is too fast and too dramatic to be a transformation. That's beyond transformation, that is a metamorphosis.The pace of innovation has increased dramatically. The speed of technological advancement and the ability to expand new concepts using cloud infrastructure and the availability of capital have created a vortex of new technology companies. Tech startup companies are being created every day, companies are being acquired at an unprecedented rate, and many businesses that can't keep up with the pace of change are falling by the wayside. Another interesting consequence of this new digital metamorphosis is the fact that a start-up's strategic advantages decrease rapidly over time as other companies copy their business model and leverage improved technology infrastructure to launch competing firms.The impact of Covid on the Industry coupled with the acceleration of Digital Metamorphosis have created a change in how restaurants collaborate with their Eric Dulin
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