Procurement digitalization: framework for large established firms
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In the industry and manufacturing world, the term Industry 4.0 has been established to describe the process & impact of digitalization technologies on their operations. This is because of Industry 4.0 offer unprecedented new opportunities to transform the business to create new values. To cite some of the benefits, through the optimization of processes and automation, The concept is to provide through digitalization an enhanced productivity including cost savings, waste reduction, errors and delays prevention through automation, increased profitability and production speeding up. Other benefit...
In the industry and manufacturing world, the term Industry 4.0 has been established to describe the process & impact of digitalization technologies on their operations. This is because of Industry 4.0 offer unprecedented new opportunities to transform the business to create new values. To cite some of the benefits, through the optimization of processes and automation, The concept is to provide through digitalization an enhanced productivity including cost savings, waste reduction, errors and delays prevention through automation, increased profitability and production speeding up. Other benefits also include real-time data for a real-time supply chain in a real-time economy, better quality products, higher business continuity through advanced maintenance and monitoring possibilities and better agility. the purpose of this study is to shed light on the current literature of the digitalization of the procurement function, and to provide a systematic framework for procurement managers on how to lead their journey towards their digital transformation.
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