Reinventing Procurement: From Cost Center to Innovation Driver
As a legacy function, procurement probably isn’t the first thing that springs to mind when discussing digital transformation. But now that’s changing with the growing recognition that procurement, when digitally optimized, has the potential to help organizations innovate, increase sustainability, and achieve their business objectives.
In this Q&A, Todd Heimes, worldwide director and general manager of Amazon Business, talks about today’s procurement trends, opportunities, and challenges. He shares insights about how various technologies — including artificial intelligence (AI), machine learning (ML), big data analytics, blockchain, and automation — are being used to vastly increase procurement efficiency and innovate supplier relationships. He discusses procurement’s role in helping organizations achieve their business objectives, including their environmental, social, and governance (ESG) goals. He also touches on the importance of finding tech-savvy procurement talent and provides a peek into the function’s future.
