New trends in sourcing and procurement post the wave of digital transformation
Digital transformation has revolutionized business operations, including sourcing and procurement. Technology and sustainability have shaped new trends in this field. AI, blockchain, and sustainability initiatives are key trends. AI tools analyze supplier data, predict disruptions, and negotiate contracts. Blockchain ensures transparency and reduces fraud in the supply chain, enabling ethical sourcing and authenticity tracking. Sustainability is a crucial focus, benefiting the environment, reputation, and attracting socially responsible customers. Embracing these trends enhances sourcing and procurement strategies, boosts efficiency, and drives growth for businesses. Staying informed about sector-wide changes is essential to stay ahead in the rapidly evolving landscape.
