Digitization might be enabler and driver of Procurement 4.0, but it is far too short-sighted seeing Procurement 4.0 as just a digitized function. Even though the 4.0-echo within the Procurement community is excitingly high, no clear vision has been developed yet describing meaning and impact of Procurement 4.0.
Dynamic and interconnected value chains are a key factor of sustainable success – managed and steered by strategic purchasers in their new role as value chain managers. This evolved environment will be influenced by drivers of digitization, e.g. Industry 4.0 & Internet of Things, Smart Data & Clouds, Enterprise 2.0 & Social Media or Mobile Computing.
In order to identify related opportunities and challenges, h&z developed a Procurement 4.0 framework. It integrates all aspects of the procurement function that will be relevant in future and addresses intra-company as well as inter-company relationships and global connectivity along value chains.