4 Trends To Watch Out For Technology Procurement In 2019

The world of procurement has seen a great number of changes in the past few years. Now it’s time to see what 2019 has in store for technology procurement in NYC.

The rise of digital technologies has affected procurement positively as well as have paved path for small businesses to quickly acquire necessary hardware and software.

This year will further enhance the use of Big Data Analytics, Machine Learning, Artificial Intelligence as well as Natural Language Processing for automation.

With 2019 halfway through, you are curious to know what the other half holds for all small and mid-sized businesses for us.

4 Trends In Technology Procurement In 2019

1. Talent Pool to Embrace Digital Technologies

Technology procurement moves from cost-saving strategies to cutting edge solutions for the enterprises.

A holistic supply chain to drive cost reductions, and maximize digital revenue, remains in perfect order.

Consistent use of AI, Robotic technologies should favor digital leaders. Many leaders complain that their teams lack the strategy to deliver procurement solutions.

The organizations need to find the right talent pool, as well as grooming the in-house teams to have a better technology procurement plan in NYC.

2. Involving Suppliers in Strategic Planning

Collaboration with suppliers still remains critical after all these years. With advanced technologies pouring in, suppliers find themselves climbing the ladder to more strategic positions.

This results in enhancing the relationship with suppliers. If we are to involve them in the early stages of the planning process, it can benefit both parties equally.

Suppliers will gain visibility of the steps in the technology procurement cycle in NYC, to help reduce risk and getting the best price for resources.

3. Risk Management

From Brexit to US trade wars to oil prices, world economies are continuously thriving to be prepared for the unexpected.

With such uncertainties, procurement acts as the first line of defense for organizations managing risk.

Procurement in 2019 has to remain on top when it comes to reducing supply chain costs. Moreover, organizations often find themselves struggling with internal risks that arise due to transparency.

So, I guess procurement is a pretty big deal in 2019.

4. Artificial Intelligence

Procurement teams will design and implement intelligent bots to run tasks with minimum human intervention.

From managing a huge volume of orders to running repetitive events to updating inventory lists, all is possible with intelligent systems.

AI will not only be a procurement trend in 2019, but businesses plan to implement it in multiple processes and operations.

Conclusion

As technology procurement in NYC is gaining more strategic importance, the organizations can also aim at higher objectives and goals to complete.

Overall 2019 is a great year and promises challenges, opportunities for procurement to pursue. To know more about how procurement shapes our digital world and its crucial place in business processes, call Xperteks at 212-206-6262.