As in the past, ISM-INDIA has compiled Procurement Trends Report for 2017. All credit for this goes to many of you who have provided the Survey Forms along with their input. This aims at helping you to use trend into your everyday workplace to stay competitive and efficient.
Think Procurement and often what comes to mind is the struggle or battle to make a supplier give you goods or services for the lowest amount of money possible. As we head into 2017, it is good time to take a look at the New Year and see what it may hold in the way of trends.
As per enclosed report, it is clear in that technology will continue to drive change in Procurement Management. However this will only deliver the intended positive results if it is implemented with strategy and operations that adhere to best practices. Procurement’s new role will be to forge new relationship with suppliers and increase collaboration.
We stand on the brink of a new industrial revolution, driven by technological breakthroughs such as the Internet of Things (IoT), cloud computing, big data analytics, robotics and 3D printing. Some call it “digitalization,” which has led to concept of “Procurement 4.0”. New technologies will lead to new business needs, which will be reflected in new requirements for the procurement department.
Krishan K. Batra
President & CEO