Innovation is the norm for businesses to survive & exceed customer expectations in today’s dynamic environment. With changing consumer trends, regulations and the drive towards sustainability there is a huge impact on packaging professionals to innovate and evolve materials.
An interview with Sam Achampong, Regional Director - CIPS
Sam Achampong answers a few questions pertaining to future trends in procurement.
CIPS - The Chartered Institute of Procurement & Supply
Regional Director - (MENA)
1) Procurement 2020? What should we look out for?
Technology is at the forefront of most changes in the world today and procurement is no different. Look out for practical applications of blockchain technology in procurement as it will revolutionise how we transact, evaluate and contract between all stakeholders in the supply chain.
2) We all know the advent procurement but what lies ahead is what most procurement professional are keen on. Can you please tells what are the key trends that all our procurement colleagues should look out for?
Procurement of the future will be more focussed on analytics, automation and stakeholder management. This means that the procurement professional of the future will need to have the soft skills (influencing, project management, collaboration) to be successful as well as the ability to understand and utilise technology in the most efficient way. With increased automation the procurement professional will lean on dashboards to influence and manage spend while real time analytics will be carried out using advanced and predictive analysis tools.
3) What is the role of BlockChain in procurement?
Block chain as a technology will underpin everything we do in procurement as it does in other areas of industry such as Finance (underpinning digital currencies). From supplier evaluation, payment verification and contract management to dispute resolution and data analysis; block chain will be a fully encompassing technology at the heart of all procurement transactions.
4) What are the key advantages of adopting block chain in procurement process?
Blockchain technology provides an opportunity for unparalleled transparency, efficiency and security in procurement, supply chain and other areas of operations.
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