In the last quarter century, procurement has come a long way. More and more, businesses all over the world are coming to understand that procurement opens the door to lower costs for infrastructural demands.
With the ongoing development of the sector come challenges. Not everyone’s open to the idea of attending to procurement collectively. There are mavericks among who like to believe that going it alone is the best way forward.
At CenterPoint Group, our track record demonstrates that this isn’t the case.
But bringing new friends aboard presents a technological challenge that can be met with forwarding vision and the will to change the way we do things. The future of procurement is connected and looming innovation promises to drive the sector into that connected future with positive momentum.
Big data analysis and the digital gift.
The digital world is a genuine gift to procurement. Especially in terms of big data, digitization is allowing us to store vast storehouses of information for a very small capital outlay.
This allows us to analyze processes and functions within our enterprise frameworks to test how effective they are. Regardless of where we are, the digital environment is changing the way we examine processes and allowing us 360˚ vision.
Everything we do can be monitored as it happens, from supply chain movement to warehouse capacity and everything in between.
Fighting fire with connectivity.
The advent of social media has presented procurement companies with a whole new challenge. When things go wrong, these online channels are conduits for unflattering commentary from organized groups to unsatisfied customers. The damage they’re capable of inflicting can be egregious.
But with analytic support and instantaneously transmitted information, it’s possible to head problems like these off at the pass, rapidly and effectively. Points of contention anywhere in the system can be quickly identified and addressed.
With this advantage comes accountability and needed transparency that ensures a positive public profile. When things go wrong, connectivity allows us to know where, who and how and to put out the fire proactively.
Envisioning key changes.
Connectivity is also a window on a changing market. With volatility and changes like wage increases, procurement companies can stay in the loop in real time. With access to information about market shifts available 24/7/365, companies like CenterPoint are able to pivot quickly toward more advantageous supply chains.
The future of procurements is connected because it’s in the digitized environment that the nimblest companies leapfrog those less willing to adapt. By remaining in the vanguard, procurement entities are offered significant advantages by inviting technological change to support their operations.
CenterPoint Group – stronger together.
CenterPoint Group is a member-based procurement advisor which brings businesses access to material savings on a variety of infrastructural needs, from cell phones, to shipping, to office supplies. By leveraging the pooled resources of our members, we create conditions for significant cost reductions.