| | SEPTEMBER 20248CIOReviewBy Anderson Cotias, Procurement and Insurance Director, Wilson SonsTHE FUTURE OF PROCUREMENT: DIGITAL TRANSFORMATION AND THE RISE OF PROCUREMENT ROBOTSThe business world is constantly evolving, and procurement teams are no exception to that. Over the past decades, procurement has undergone profound changes driven by technological developments, ever-changing client expectations, and growing environmental and social awareness. Globalization has given rise to a myriad of vendors, enhancing supply chain complexity and making supplier selection a critical task. On top of that, client expectations for fast and efficient product and service delivery have put increasing pressure on all procurement teams.With these changes, organizations have redesigned their procurement strategies, seeking greater efficiency, sustainability, and resilience in their supply chains, obliging the organizations, in my view, to find ways to optimize their processes, eliminate inefficiencies and make decisions with better information.Digital transformation is surely a driving force behind changing procurement processes. Advanced technologies such as data analytics, machine learning, and artificial intelligence are helping companies to gain deeper insights into their procurement operations. Data can be collected and analyzed in real-time, which helps one make smarter decisions. Additionally, automating routine tasks has freed up time for procurement teams to focus on strategic activities such as developing supplier relationships and finding new business opportunities.Procurement teams are increasingly focused on optimizing processes and automating daily tasks. Implementation of procurement management systems, advanced data analysis, and procurement robots have become common practices in companies wishing to gain a competitive advantage. These technologies have allowed greater visibility and control over expenses, which makes it easier to identify opportunities for savings as well as cost reductions.One of the most visible signs of digital transformation in procurement is the growing application of procurement robots. These automated systems are capable of performing many tasks, including market research, supplier selection, processing and analyzing price quotes and placing purchase orders. They operate 24/7, non-stop, which ensures greater operational efficiency and reduced error levels.Procurement robots are particularly useful when it comes to handling large amounts of data and information from different vendors. They can quickly compare quotes from multiple vendors and identify the best purchase options based on predefined criteria. At Wilson Sons, we implemented our procurement robot SOFYA towards the end of 2022 after fulfilling some important requirements:a) Master Data Governance: operations with a procurement robot require reliable master data. This guarantees that the robot will buy the correct material requested and that we do not have any backflow upon delivery.b) E-Procurement Platform: a reliable, stable, vendor-friendly sourcing platform is required.Anderson CotiasIN MY OPINIONCOLLABORATION BETWEEN PROCUREMENT PROFESSIONALS AND AUTOMATED SYSTEMS WILL BE KEY TO PRODUCING THE BEST RESULTS
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