Reinventing Procurement: From Cost Center to Innovation Driver
Executive Interview
Historically, procurement has often been viewed as a cost centre. Today, after years of social, economic, and political upheaval, procurement is transforming into a strategic function and playing a crucial role in helping organisations achieve their broader business goals. Todd Heimes, worldwide director and general manager of Amazon Business, sat down with the MIT-SMR Connections team to discuss how and why procurement is moving toward a more digitised, automated future ripe for innovation and what Amazon Business is doing to support this transformation.
Interview Snapshot
This interview covers:
- Insights into the various technologies — including artificial intelligence (AI), machine learning (ML), big data analytics, blockchain, and automation
- The increasing use of data and analytics tools as organizations pursue a more sophisticated technical footprint
- The benefits and challenges of digital transformation, such as identifying the resources, talent pool, and internal buy-in needed to move procurement into the future