Ok, I used to be so sure that the procurement function was not as close to how the robotics looked today. According to Bloomberg (and articles from tech universities), Amazon has extended their warehouse and operations robots from the ground to white collar floor. Algorithms with a wide range of analytics capability started replacing the staff that manages sales strategies. And it is happening right now!
Of course, procurement is not staying away from this party, and since market already has working algorithms and initial AI libraries, it is just a matter of time.
What will be at the core of procurement robotics in the decision making process? Benchmarks. Only massive structured data, from both sides of the table, will help us get results and allow us a clear spend efficiency visibility on any level. But benchmarking with an external market is about trust. I see the concept of this trust as the same as the credit bureau principle, where all parties can receive data but only in exchange to own. Good to see that this topic is gaining strength and headlining procurement conferences and discussions these days.
link to Bloomberg: https://lnkd.in/epw7H46
Creating Value through Procurement