Over the past few decades, procurement has consistently evolved - beginning as a clerical, back-office task, and growing into a strategic, intelligent business function that has the power to not only save money and increase efficiency, but also combat social and environmental issues. While the source-to-pay processes are integrated in centralised IT and enterprise resource planning (ERP) systems, other emerging technologies including artificial intelligence (AI), machine learning (ML), Internet of Things (IoT) and blockchain are only implemented sporadically within supply chains.
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