How much automation should we expect in procurement?

03-10-2024 • 28 mins

In this episode of The Procurement Software Podcast, host James Meads delves into the transformative impact of automation in procurement, focusing on how emerging technologies are reshaping the industry.

Tune in to learn how these technologies, paired with critical human skills, can help you future-proof your career and enhance efficiency in your procurement processes.

Automation's game-changing impact on procurement efficiency

This week, James explores the transformative power of automation in procurement, focusing on how emerging technologies like AI, machine learning, and robotic process automation (RPA) are reshaping the field. He explains that while automation is taking over repetitive tasks, particularly in areas like Procure-to-Pay (P2P) and sourcing, it is also creating opportunities for procurement professionals to shift their focus to more strategic activities.

James emphasises the importance of balancing automation with human skills, such as critical thinking and relationship building, which remain crucial for effective procurement. He also highlights how tools like generative AI are streamlining processes that once took hours, like drafting RFPs, making the procurement function more efficient.

Additionally, James discusses how professionals can future-proof their careers by embracing these technologies while honing their interpersonal and strategic skills, ensuring they remain valuable in an increasingly automated landscape.

Timestamps:

[00:01:20] AI's impact on procurement roles.

[00:04:08] Importance of interpersonal skills.

[00:09:10] Generative AI in sourcing RFPs.

[00:12:18] Automation in contract management.

[00:16:22] Spend analytics automation improvements.

[00:21:40] Automation in supplier relationship management.

[00:25:24] Future-proofing procurement careers.

And that wraps up another episode of The Procurement Software Podcast!

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We'll be back at the same time next week, so see you there.

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