Change is a constant in business. And the pace is picking up. Ten years ago, today’s top 10 jobs didn’t exist. And ten years from now, the landscape will be even more different. What will Procurement look like in 2020? According to a group of more than 80 executives gathered for a roundtable discussion at Ariba LIVE, a major transformation is afoot. In their view, Procurement in the next decade will be:
Integrated across the entire supply chain.
Virtual, mobile and device agnostic. Professionals will be able to use their devices of choice to get connected and access the information they need to drive business decisions and results.
Younger, more global and multicultural.
Outsourced. Companies will buy a large chunk of goods and services versus building them organically.
More flexible and global. Procurement will have to adapt to change more quickly to gain and maintain competitive advantage.
Focused on quantifying and managing cash and risk.
Executives participating in the conversation also believe that technology will be a disruptive force that will narrow or close gaps in competitive advantage. For instance, smaller companies that don’t have scale can gain it using networks like the Ariba Network and services like Ariba Discovery.
The comments were sparked by the launch today of Vision 2020, an online forum created by Ariba to shape the future of procurement. “The objective is to initiate a dialogue on the future of procurement and to create a roadmap for how to get there,” said Roy Anderson, VP or Metasys Technologies who moderated the roundtable discussion. “Some of the ideas presented today have been kicking around for quite some years, although the conditions under which they might flourish have yet to materialize in more than a handful of enterprises. The hope is that—with all that has been accomplished in the past decade—the time for these ideas may finally be coming.”
The Vision 2020 dialogue continues at www.futureofprocurement.com. Join today to share your insights.