According to Heraclitus of Ephesus, a pre-socratic philosopher, “Nothing is permanent except change”. Today, more than two thousand years after his time, that saying has never been so modern.

In fact, innovation is happening at a fast pace, impacting several segments and transforming our daily lives.

In B2B, the changes are significant and vital: buyers are now acting in an increasingly strategic way, and leaving operational activities to technology.

Keep on reading to learn more about the Procurement of the future!

Hyperconnectivity is the passport to the Procurement of the future

In the new Procurement era, hyperconnectivity is the passport to a disruptive scenario, pointed by several technologies.

Cloud computing allows integrating the whole process and accessing data from anywhere.

The Internet of Things (IoT) enables even more control and automation of the entire supply chain and production process.

Analytics and artificial intelligence solutions, on their turn, automate the demands of price comparison and negotiation with suppliers, making the buyer’s decision-making process more agile and intelligent.

These can be considered the new “superpowers” of buyers and supply chain managers, so they can have greater agility in operational tasks and can do business with more accuracy and strategic vision.

Technology reinvents the interaction between buyers and suppliers

In this industry, innovation is reinventing interactions between suppliers and buyers, and providing benefits for both parties.

We can’t forget that data integration plays an important role too, allowing the creation of a 360-degree view of the whole process – and taking to the next level the management of certain issues, such as lead time, logistics, costs and risk scores with suppliers.

In this way, e-Procurement has become critical for end-to-end supply chain optimization.

Is your procurement area ready?

In this digital age, only the fastest and most adaptable businesses will survive market pressures. Therefore, to keep up with all such technological changes, the buyer must be always aware of key trends.

It isn’t enough just to think about quotations and orders, or to foster a good relationship with suppliers. You must assess the company and market scenario, propose strategic improvements for the business and leave the heavy work to technology.

Is your company ready to embark on the Procurement of the future?

This text was signed by Armando de Vilhena, Engineering and Operations Director at Mercado Eletrônico, and published on the TI Inside portal [in Portuguese].