Digital Transformation in Procurement is the process of using digital technologies to improve the efficiency and effectiveness of procurement processes. It is a way to increase efficiency, reduce costs, and improve customer service. Digital Transformation in Procurement includes the use of digital tools such as artificial intelligence, machine learning, robotic process automation, and blockchain technology to streamline and automate procurement processes. These technologies can be used to automate and optimize the procurement process, from sourcing and purchasing to supplier management and payment. Digital Transformation in Procurement also includes the use of digital tools to improve the visibility of the supply chain, increase collaboration between stakeholders, and enable data-driven decision making. By leveraging digital technologies, organizations can improve the speed and accuracy of their procurement processes, resulting in improved efficiency, cost savings, and customer satisfaction.
