How do you measure the impact of digitalization on your purchasing performance?

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Digitalization is transforming the way purchasing professionals work, communicate, and deliver value to their organizations. But how can you measure the impact of digitalization on your purchasing performance? In this article, you will learn about some key indicators and methods that can help you assess and improve your digital maturity and capabilities.

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Johnathan Maiko

Sourcing Estratégico | Produto | Suprimentos | Desenvolvimento de Fornecedores | Análise de Mercado ??????
Gabriel Tomaz

Economista | Supply Chain | Suprimentos | Compras | Logística | Gest?o de Estoques | ESG | Yellow Belt
Ziad E.

Consultant | Stratégie et Transformation des Opérations | Ingénieur Industriel | LSSGB | Ponts Alumni | Enimist

1 Benefits of digitalization

Digitalization can bring many advantages to your purchasing function, such as improving efficiency and productivity, enhancing collaboration and communication, increasing agility and resilience, and creating value and competitive advantage. Automation and streamlining processes can reduce errors and costs, while faster and smarter decision making is enabled. Connecting and integrating data, systems, and stakeholders across the supply chain facilitates knowledge sharing and innovation. Real-time visibility, analytics, and risk management support flexibility and adaptability to changing market conditions and customer needs. Leveraging data and insights, optimizing performance and quality, as well as delivering more value-added services and solutions to internal and external customers can create a competitive advantage.

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Johnathan Maiko

Sourcing Estratégico | Produto | Suprimentos | Desenvolvimento de Fornecedores | Análise de Mercado ??????
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A digitaliza??o aprimora as compras ao automatizar processos, facilitar análises de mercado em tempo real e possibilitar a integra??o de novas ferramentas. Isso resulta em decis?es mais estratégicas, eficiência operacional e adapta??o ágil às mudan?as do cenário de compras. A experiência na área é crucial para alinhar essas transforma??es às necessidades específicas do departamento.

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Gabriel Tomaz

Economista | Supply Chain | Suprimentos | Compras | Logística | Gest?o de Estoques | ESG | Yellow Belt
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A digitaliza??o é um dos principais pilares para cria??o de um setor mais estratégico e menos manual. Somente desta forma será possivel otimizar o tempo do seu time para que ele possa focar nas tarefas de maior valor agregado.

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Boris POMMERET

? Founder @Cercalist · The ultimate matchmaking platform for manufacturers and B2B buyers · Simplifying supplier discovery and boosting visibility.
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Digitalization primarily helps buyers in focusing on sourcing, supplier relationships, and negotiation. The buying process involves many small, time-consuming tasks, such as preparing purchase orders, forecasting, tracking orders and deliveries, comparing prices from different suppliers, and reviewing previous orders to monitor price changes. Going digital streamlines all these tasks, making them much faster and easier. It's a clear choice for small companies considering the switch from spreadsheets to an ERP system. Just go for it! Your purchasing department will thank you later :)

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Jerin George

Assistant Procurement Manager with MTech in Mechanical Engineering, specializing in Procurement Management
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Digitalization enables proactive risk management by providing real-time insights into potential disruptions or vulnerabilities in the supply chain. Implement advanced risk assessment tools and scenario planning capabilities to anticipate and mitigate risks effectively.

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2 Indicators of digitalization

To measure the impact of digitalization on your purchasing performance, you must define and track key indicators that reflect your digital maturity and capabilities. These indicators can be divided into four categories: strategy, culture, processes, and data. You should consider how well you are aligning your digital vision with your business strategy and customer expectations. Additionally, you must ask yourself how you are fostering a digital mindset among your team and stakeholders. Furthermore, you need to think about how you are leveraging digital tools to optimize and automate your processes, as well as collecting, managing, and analyzing data across your purchasing function and supply chain. Ultimately, these key indicators will help you measure and improve the efficiency and effectiveness of your purchasing performance.

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Jerin George

Assistant Procurement Manager with MTech in Mechanical Engineering, specializing in Procurement Management
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Seamless flow of data is an important parameter for measuring the impact of digitalization. In a digitally transformed supply chain, data flows seamlessly through interconnected systems and platforms, enabling real-time visibility, transparency, and collaboration.

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3 Methods of measurement

To measure digital indicators, you can employ a range of methods and tools, such as surveys and assessments to evaluate your digital maturity and capabilities, as well as create dashboards and scorecards to monitor your digital performance. Additionally, analytics and insights can be used to measure and improve your digital impact, while feedback and reviews can be collected from customers, suppliers, and partners to measure satisfaction. All of these approaches enable you to identify gaps and opportunities, benchmark against best practices and industry standards, monitor key performance indicators (KPIs) and metrics that align with your digital objectives and outcomes, understand your current situation, identify trends and patterns, and predict future scenarios and actions.

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Ziad E.

Consultant | Stratégie et Transformation des Opérations | Ingénieur Industriel | LSSGB | Ponts Alumni | Enimist
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To effectively measure the impact of digitalization on purchasing performance, focus on key metrics such as cost savings, process efficiency, and supplier performance, which are enhanced by digital tools. Track reductions in procurement costs, improvements in cycle times, and supplier compliance rates before and after digitalization. Additionally, leverage digital platforms to bolster CSR by ensuring suppliers meet sustainability and ethical standards. These metrics will provide a comprehensive view of digitalization’s benefits, highlighting both efficiency gains and enhanced CSR compliance in your supply chain.

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Jerin George

Assistant Procurement Manager with MTech in Mechanical Engineering, specializing in Procurement Management
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Another method for measuring the impact of digitalization on purchasing performance is through benchmarking against industry standards and best practices. By comparing your digital capabilities, processes, and outcomes with those of similar organizations or leaders in the field, you can identify areas for improvement and set realistic targets for advancement

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4 Challenges and best practices

Measuring the impact of digitalization on your purchasing performance is not without challenges, such as a lack of clear vision and strategy, data quality and integration, skills and resources, or collaboration and alignment. To overcome these challenges, you should define your digital vision and strategy based on business goals and customer needs, improve data quality and integration, develop skills and resources, and enhance collaboration and alignment. This can be done by communicating your vision clearly, standardizing data, investing in training, engaging stakeholders, and creating a culture of trust.

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5 Next steps

Measuring the impact of digitalization on your purchasing performance is an ongoing and evolving process. You should regularly review and update your indicators, methods, and practices, based on your feedback, results, and learnings. You should also keep abreast of the latest trends and technologies in digital purchasing, and explore new opportunities and solutions to enhance your digital capabilities and value proposition. By doing so, you can ensure that you are maximizing the benefits of digitalization for your purchasing function and organization.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you measure the impact of digitalization on your purchasing performance?

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1 Benefits of digitalization

2 Indicators of digitalization

3 Methods of measurement

4 Challenges and best practices

5 Next steps

6 Here’s what else to consider

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