Procurement functions in the digital age have matured to strategic importance, a notable improvement from their origins as a transactional support role. In this chapter, we will introduce the concepts of procurement as part of legacy supply chain management (SCM) and its transformation to intelligent supply in the digital supply network (DSN). We will discuss the capabilities, their associated technologies, and how intelligent supply positively impacts customer service, operational efficiency, revenue, cost, and user experience.
PROCUREMENT CONCEPTS BEFORE THE DIGITAL ERA
Purchasing as a business function has existed since ...