The Procurement Function Braces for Radical Change

A message to procurement managers: Your job is about to be transformed ''almost beyond recognition.'' Those are the words of Kai Nowosel, managing director of the Sourcing Procurement Practice of Accenture Strategy. On this episode, he talks about the big changes that are coming to procurement, spurred by developments such as digital platforms, sophisticated analytics and the Industrial Internet of Things. All of this promises to boost procurement's position in the organization, beyond its traditional role as a cost-cutter. Expect procurement managers to gain new respect in the executive suite, Nowosel says. Hear what a select group of high-level executives, academics and technology providers thinks the future holds for procurement. And discover how a combination of technology and business-process change will create ''the marketplace on steroids'' – all in just five to seven years.