Without a doubt, the use of different technologies is changing business processes and interactions. Therefore, the great challenge is to transform supply management into a more connected, intelligent and transparent process, leveraging the use of technology.
The role of the purchasing and supply areas is changing, which is why it is key to adapt to new contexts and incorporate trends into their processes.
1. Cloud tools and Software as a Service
The constant evolution of technology also impacts the Supply Chain. For this reason, the platforms for its management have been reinvented to offer innovation, framed in ease of use and a better experience in process management.
In this way, cloud platforms allow business processes to be executed in a more efficient, flexible and scalable way, because with a single connection to the supply network the different stakeholders can interact and work together. On the other hand, cloud technology allows more fluid integrations with other systems such as ERP’s or accounting programs, which allows better equipment performance and a substantial improvement in company efficiency.
Likewise, Software as a Service has taken place in supply management, allowing purchasing areas to focus on the core of the business and save resources, handing over more specific responsibilities such as infrastructure, implementations, and technological maintenance to experts.
This is how these two trends have become great allies for supply, since they manage to eliminate barriers between processes, turning the supply chain into an integrated and accessible ecosystem for its stakeholders, from decision makers to suppliers of goods and services. Therefore, it is essential to take advantage of innovations in the technological field to generate competitiveness in companies.
2.Data analysis in the supply chain
Without a doubt, supply processes generate a large amount of data that improves the ability to make business management visible. From planning, production, search for suppliers, to the payment of invoices, they constitute sources of data that, when processed, become relevant information. This information becomes relevant for making decisions that can drive strategies to reduce costs and generate value from the purchasing areas.
Advanced analytics uses different algorithms to recognize patterns in data sets, thus finding trends that can impact supply management. Analyzing this data and obtaining it accurately improves decision making, risk management and process development. Some uses for data analytics can be in annual spending planning, in negotiations with suppliers or in the optimization of purchasing teams.
By taking advantage of this information, organizations can not only respond quickly to incidents, but also anticipate and prevent them effectively. In this way, supply management takes on a more strategic role within organizations.
3.Connection and scalability in the supply chain
The new way of encompassing supply management has led to the promotion of certain characteristics that radically differentiate it from traditional forms. New business needs bring with them a more connected and scalable supply chain.
Connecting suppliers, distributors, buyers, user areas and decision makers is essential to move from individual work to collaborative, innovative and more transparent work. One of the advantages of having a connected network is the real-time visibility of processes, which promotes dynamism and supports decisions that impact the business.
This ecosystem also provides collaboration between members of the area, adjusting to changes quickly and accessing correct and timely information at each stage of the process.
These are just some trends that are transforming supply management, taking it to a more integrated and strategic context. It is time to have on the roadmap the adoption of new technologies that enhance the capabilities of companies’ purchasing areas.
