5 Apps To Revolutionize Procurement Organizations

In a study done by Accenture, we are expecting to see some major changes in supply chain efficiency and procurement organizations. Accenture Strategy works to bring businesses and technology together.

The new study titled: “Procurement’s Next Frontier: The Future Will Give Rise to an Organization of One,” by Accenture predicts that adding technological advancements will help procurement organizations revolutionize the supply chain. Using these apps will ultimately help keep an enterprise’s overall spending down and minimizing the risk of fraud or collusion.

Accenture’s Five App Bundles

The five apps listed are used individually or can be used in a “bundle”, as Accenture puts it, for the most successful procurement in the future.

The Virtual Company Mall

The company mall features a Cloud-based set of pre-approved private and public shops or suppliers for customers to select goods or services. This app is helpful in guiding the purchaser through policies, contracts, and preferred suppliers.

 Supply Analytics

As the manufacturing industry may know, Big Data and the Internet of Things is an important tool for supply analytics. Gathering this data will provide procurement organizations with key insights to determine how they can optimize supply management and savings opportunities.

Virtual Supplier Room

The Virtual Supplier Room will allow companies to interact with strategic suppliers virtually. By collaborating on innovative programs and sharing insights and ideas, procurement organizations can save time and money used on travel expenses.

Virtual Category Room

Similar to the Supplier Room, the Category Room will be a gathering place for a company’s category managers to keep track of in-flight projects based on where they are in the process.

Supplier Network

The Supplier Network app supports all the other apps in that it links tendering, performance assessment, supplier discovery and supplier interaction between the Virtual Supplier Room and the Virtual Category Room.

Accenture uncovers these five technology advances as having a big impact on an organization’s procurement and securing the supply chain processes.

Let us know what you think! Is Accenture’s study helpful in optimizing your supply chain processes?

The MEP Supply Chain Optimization program is here to help your organization increase alignment, visibility, and collaboration using the latest manufacturing trends. Contact us today to find out more about our Supply Chain Optimization program.