Starting Procurement’s Innovation Revolution

What’s the first thing that comes to mind when you think of innovation?

Maybe you picture Tesla and self-driving cars. Maybe it’s when Apple first launched iPhone, basically giving you a handheld computer.

Or maybe you thought of something a bit more intangible.

AI seems to be the go-to when people try and explain innovation or new ‘cutting-edge’ technologies, but how many can really explain what AI is or does?

It’s the little things, it’s the behind the scenes, it’s the journey from the horse and buggy to self-driving cars and everything in between.

The magic happens in the day-to-day, in-between the lines, until one day, everything changes.

Procurement’s Crossroads

Procurement has come a long way since it’s humble beginnings in Ancient Egypt.

We’ve gone from recording stock on papyrus scrolls, to inventing risk management and insurance principles in Ancient Rome, and then the official ‘Procurement Department’ being coined along with the industrial railway.

Throughout this time there’s been countless innovations driving both procurement and business forward, but somewhere along the way that day-to-day innovative fire went out.

Now procurement finds itself at a crossroads.

For years procurement was considered a tool for cost reduction, and then came the push…