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Procurement in a Virtual Business World

Transformation Infrastructure

By pwsadmin | September 26, 2020

Hybrid IT enables a composable infrastructure which describes a framework whose physical compute, storage, and network fabric resources are treated as services. Resources are logically pooled so that administrators need to physically configure hardware to support a specific software application, which describes the function of a composable architecture. This type of transformative infrastructure is foundational…

Essential Characteristics of Cloud Computing as Digital Transformation

By pwsadmin | September 25, 2020

A survey of 2,000 executives conducted by Cognizant in 2016 identified the top five ways digital transformations generate value:      Accelerating speed to market      Strengthening competitive positioning      Boosting revenue growth      Raising employee productivity      Expanding the ability to acquire, engage, and retain customers   Digital transformation is also a cultural change. Cloud Computing as Digital Transformation Since cloud…

Embrace Transformation

By pwsadmin | September 22, 2020

From a business perspective, differentiating business processes and quality customer service are central to overall success. Business leaders must therefore clearly identify and measure how information technology contributes to the value of every key business process. They must also know how to most cost effectively use IT when the task is merely the management of…

Computer Vision Advances Zero-Defect Manufacturing

By pwsadmin | July 25, 2020

by Kevin L. Jackson Electronics manufacturers operate in a challenging environment. It’s hard enough to keep up with the ever-accelerating rate of change in the industry. Now customers want increasingly specialized product variations in less time and of higher quality. Meeting this demand for increased product variation can seriously impact the bottom line. Such variability increases…

Real-Time Analytics Power the Roadway of the Future

By pwsadmin | July 25, 2020

By Kevin L. Jackson The complexities of citywide traffic are pushing the limits of existing transportation management systems. Outdated infrastructure is based on proprietary, single-purpose subsystems, making it costly to acquire, operate, and maintain. And current roadways are simply not prepared for the future of autonomous vehicles. Enter the SPaT Challenge, an initiative encouraging cities and…

Thriving on the Edge: Developing CSP Edge Computing Strategy

By pwsadmin | March 6, 2020

Communications Service Providers (CSPs) are facing significant business model challenges. Referred to generally as edge computing, the possibilities introduced by the blending of 5G networks and distributed cloud computing technologies are redefining how CSPs operate, partner, and drive revenue. A new Ericsson Digital whitepaper entitled, “Edge computing and deployment strategies for communication service providers,” addresses these challenges…

SourceConnecte! Marketplace With A Mission

By pwsadmin | March 6, 2020

Earlier this year, GC GlobalNet launched a new breed of B2B e-commerce sites. Curated by Kevin L. Jackson, SourceConnecte (with an “e”) went live with three strategic goals in mind: Efficiently leverage modern social media technologies to facilitate value-based interactions between enterprise buyers and vetted suppliers; Establish a protected interactive environment capable of supporting high-value B2B e-commerce negotiations…

Potential vs. Reality: Is Edge Computing Real?

By pwsadmin | January 19, 2020

Edge computing provides compute, storage, and networking resources close to devices generating traffic. Its benefits are based on an ability to provide new services capable of meeting stringent operational requirements by minimizing both data latency and the need for bandwidth. Based on Google trend data, searches for the term has also grown substantially over the…

Enabling Digital Transformation

By pwsadmin | December 22, 2019

Digital transformation integrates technology into all areas of an organization’s business or mission. Its fundamental purpose is to create and deliver innovative and industry-changing products and services to a global customer base. This outcome requires the seamless two-way flow of data and information between internal business processes and external processes that interact with customers, business…

The ThinkShield Story Part 1: The Challenge

By G C Network | October 24, 2019

The cybersecurity challenge seems to be growing daily. Threats are becoming more sophisticated, and attacks are becoming more destructive while the corporate world’s response seems to resemble a deer in headlights. Recent examples of this dangerous state of affairs include[1]: A data breach of a US Customs and Border Protection surveillance contractor that led to…

Today, companies are undergoing a dramatic change in their environment and processes.  Many groups these changes together as “Digital Transformation,” but that industry buzzword fails to describe the essential details associated with this change.  A critical and often underappreciated area is procurement and supply chain management.
While these areas are not generally under the bright lights of business, these processes grind the gears of business success.  In building new service procurement processes and virtual supply chains, the Chief ProcurementOfficer must:
  • Identify and adopt a framework for electronic procurement that uses virtual supply chains that incorporate existing state-of-the-art public and private sector electronic procurement and supply chain systems;
  • Financial and acquisition changes designed to minimize capital expenditures while simultaneously maximizing operational expenditures
  • Build and deploy electronic procurement system that uses virtual supply chains that incorporate multi-media, distributed work-flow management, document handling, and electronic contracting procedures;
  • Educate and train users on new processes and systems associated with virtual supply chains and electronic procurement systems; and
  • Build, extend and expand supply chain collaboration and electronic data exchange.

All this must also address the new and sometimes sweeping legal and regulatory requirements around data sovereignty and privacy.
Wedded at the hip with the CPO, the CIO must also find a path through “Digital Transformation.” The operational and deployment challenges faced there include:
  • Prioritizing as-a-service information technology consumption and multi-source procurement
  • Transitioning from data center ownership and physical management toward the virtual management of IT services delivered from third-partydata centers;
  • Dismantling of monolithic software application designs into modern solutions that aggregate internal and externally delivered microservices; and
  • Retraining and transitioning staff away from Agile and Waterfall management models toward fully automated DevOps.

Taken together these activities start to describe the many details associated with acquisition and procurement in a virtual business world. Traditional and legacy management systems that comprised of disjointed point solutions cannot provide a holistic picture of the modern virtual supply chain and hybrid IT ecosystem. CIOs looking to blend legacy data centers with multi-vendor cloud solutions and CPOs striving to create higher value for the business by harnessing new and disruptive digital technologies must join together. This new age relationship must focus on delivering to the enterprise:

  • A unified source-to-pay platform that can provide seamless information, process, and workflows; easy integration; improved data visibility and integrity; and increased compliance, utilization, and collaboration;
  • The ability to leverage technologies like artificial intelligence, the blockchain, and robotic process automation (RPA) that can remove humans from repetitive or mundane tasks such as managing contracts, tracking expenditures, and assessing supplier performance; and
  • An open, cloud-based procurement platform that enables rapid innovation while actively supporting the shift from cost control and spend management to value creation and enterprise growth.

When building such a relationship, digital procurement transformation tools provide the pathway to effective and efficient procurement in today’s virtual business world. Unified source-to-pay Platforms like SMART by GEP® feature AI-based analytics and automation suitable for complex enterprise supply chains. These advanced systems also work with enterprise resource planning systems such as SAP or Oracle.

Unified Source-to-Pay Platform to Enable and Accelerate Digital Procurement Transformation.

This post is brought to you by GEP and IDG. The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of GEP.

Cloud Musings

( Thank you. If you enjoyed this article, get free updates by email or RSS – © Copyright Kevin L. Jackson 2016-2018)

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