Want your procurement staff to be ready for the next big thing? There is undeniable value in a staff that is savvy with current technology, but how do you prepare your staff to be ready to keep up with the digital trend that’s here to stay? In many cases, trends come and go, but sometimes they are the forces that drive innovation and success for businesses worldwide. Organizations of all sizes who embrace changing times are better able to develop strategies to manage change in a way that positions themselves for the future. Digitalization is achieved through the use of technology to strengthen existing processes and practices. It can also be looked at as the thread that is woven through multiple silos of information as means to integrate people, processes, and data throughout an organization. Outside of cost savings, there is value in digital efficiency, especially since procurement plays a vital role in shaping strategic models that support the execution of a multitude of contractual goods and services.
Read more “Building a Procurement Team for a Digital Future”
The Benefits of Automation
The Technological Revolution, including automation in manufacturing and the automotive industry is synonymous with great innovations and rapid developments taking place during the Second Industrial Revolution in the late 19th century through the early 1900s. Advancements like the assembly line and automated machines, which replaced work that used to be performed manually, led to positive outcomes, including efficiency and mass production of manufactured goods at significantly higher rates.
It’s a known fact that in a manufacturing setting, robotics and automated machines improve productivity and reduce labor costs. And yes, they replace workers. So, it is not surprising that businesses will always embrace automation. To business, automated machines are like the perfect worker who works seven days a week, never takes breaks, never asks for a raise, and never gets sick. Sounds like a deal you simply cannot resist, doesn’t it? Ask the same question of a blue-collar worker displaced due to automation and expect a different answer.
Read more “The Age of AI: Will Robots Take Over? Part I”