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Procurement 2020… Will anything change? (ATSC blog)

This content was posted on the ATSC blog on November 18, 2019

It seems as though procurement has been anticipating the arrival of 2020 since the minute the ‘Y2K’ buzz wore off. Predictions and research, webinars and report titles… ‘Procurement 2020’ has such a nice neat ring to it. Now that it is just weeks away, it seems appropriate to get down to business and think about what (if anything) is really going to be different. Will 2020 be just another calendar year or will it actually usher in meaningful change for the profession?

While the new year doesn’t offer inherent disruption, some of the trends that have been brewing within procurement for the last couple of years are finally approaching the point where we will need to act upon them. Automation has been a central topic of conversation, but few companies have entered the pilot stage, let alone implemented anything enterprise-wide. I believe 2020 is the year we will get past the fuzzy glow of automation and start making it an operational reality. But… first things first…

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Can an Ecosystem Approach Level the Playing Field?

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Characterizing a supply chain as linear no longer captures the complexity of the relationships between a business and their suppliers. An ecosystem, with many interconnected points of activity, is a much better description, because it recognizes the network effect we often see as well as the diversity of the players in that network.

In order to compete sustainably, companies need to partner with suppliers and service providers that are both large and small, established and emerging, local and global. And while being exposed to a diverse collection of potential supply partners creates huge opportunities for innovation, differentiation and competitive advantage, it must alter how each company manages its spend and third party relationships.

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Transforming Finance’s Impact Through Automated P2P (Determine)

This content was published on the Determine blog on November 7, 2019

“The transformation of the finance function into a catalyst for growth starts with CFOs having more influence in areas that have broader consequences for the business.”

— Institute of Finance & Management (IOFM)

Procure-to-pay (P2P) technologies are often most closely associated with the first P in their name: procure. At the same time, the efficiency of an enterprise’s payment processes have more of an impact on its growth rate than the efficiency of its purchasing processes. And it is finance – not procurement – whose ability to deliver against performance objectives is improved the most when payments are streamlined, and hampered when they are not.

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5 Things I Learned from Interviewing Procurement Experts and Thought Leaders (Vizibl)

This content was published by Vizibl Supplier Innovation & Blockchain Research Analyst Alex Basso Pinol on LInkedIn on October 30, 2019

Over the past 4 months I have developed a research project to unpack supplier innovation. With no previous experience in the world of procurement, I decided to reach out to some of the most knowledgeable and experienced procurement professionals as part of my research.

The aim of these conversations was to discuss the findings of my research and learn more about different areas related to supplier innovation: IP management, discovery of suppliers, customer of choice, trust, customer financial assistance, etc.

The combination of research and insights from experts turned out to be the best recipe to learn about the past, present and future of procurement. I was able to validate my own ideas, and discover new ones to explore.

So, what have I learned?

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