The procurement function is undergoing monumental changes. The impact of new technologies and digitalisation are tearing down the pillars that have been at the core of this vital function for the past 30 years. Today, organisations need procurement to be more than just a savings machine, expecting it to embrace new ways of engaging with the business and collaborating with suppliers. However, most procurement organisations are so intently focused on the day-to-day activity, the ability to transform is an unrealised opportunity.
CPOs, CFOs and CEOs need to know that their procurement teams can continuously drive new value fully aligned to the company strategy, are able to track that value to the bottom-line and be assured that procurement has the tools and capabilities to meet the ever-increasing complexity of the markets of the future. While Hackett estimates cost reductions through enhanced procurement digital skills to be around 29%, further research has also proven that 68% global organizations cite outdated technology as a significant pain point for procurement (which further stresses on the need for an overhaul of digitalisation strategies).
This webinar, in partnership with Zycus, will discuss how to define and deploy the digital roadmap for procurement. And will discuss that while digitalisation of the function is revolutionary, the path towards that ‘digitally enabled future’ is likely to proceed along some well-established paths and pointed strategies surrounding a disruptive mindset, enhanced agility, smarter analytics capabilities and increased risk awareness.
The main areas of discussion will be:
Predictive & data analytics
Initial placement of artificial intelligence
Understanding audits, minimising risk, improving sustainability through trends unearthed by big data
Are Purchase to Pay (P2P), Source to Contract (S2C) and Supplier Relationship Management (SRM) the procurement holy grail of digitalisation?
Navigating the digital cultural shift through the right strategies
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Mr. Breault is a Co-founder and Principal of The Beyond Group, a specialised advisory firm providing transformation guidance to commercial and procurement teams, developing learning conferences, and convening industry specific Think Tanks aimed at improving relationships between buyers and sellers. He is a recognised expert in the field of Global Procurement, Productivity, and Global Business Services in the Pharmaceuticals, as well as Electronics, and Aviation industries. Giles is a well-respected public speaker on many topics in the procurement and supply chain field.
Before founding The Beyond Group, Mr. Breault was a career productivity, supply chain, and procurement executive and has held the roles of Head of Productivity and Business Services as well as Chief Procurement Officer of Novartis Pharmaceuticals in Switzerland. He was also Senior Vice-President, Aventis (Sanofi) Pharmaceuticals and Vize-Direktor & Head of Strategic Procurement at F. Hoffman La Roche in Switzerland. Prior to moving to Europe in 1997, he was Vice-President of World-wide Procurement, ITT Corporation in the United States.
With a deep interest in procurement automation strategies adopted by emerging companies, Meenakshi looks into researching and analyzing the best-in-class practices in all the areas encompassing source-to-pay for Europe, with a special focus on UK. She works with the marketing, product and sales teams to come up with suitable product enhancements, product positioning and customer acquisition strategies. Over the past few years, she has acquired knowledge in emerging procurement fields like sourcing, supplier management, contracts, savings, spend etc. Regular interactions with analysts, prospects and customers have led her to have an enhanced understanding of the digitalisation/automation market spanning multiple geographies and industries.