EXPLORING NEW TECHNOLOGIES IN PROCUREMENT
Abstract
Today, the rapid advancements in digitalization reshape supply chains and transform the current modus operandi of the procurement function within companies. Procurement logistics involve the exchange of a wide variety of data relating to suppliers. As the needs of companies become more complex, many incipient disruptive innovations are adopted to support procurement and push it forward in terms of predictability, transactional automation and proactivity of supplier relationship management. These new emerging technologies encompass but are not limited to big data analytics, robotics, internet of things, blockchain and smart contracts, etc. Therefore, this paper aims to explore the potentialities of these technologies in activities pertaining to procurement and the main organizational barriers that stand against their wide-scale implementation.
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