ProcureTech100 Predictions for 2022: Intelligence
The predictions from the ProcureTech100 were focused on 4 main themes: 1. Digitalisation, 2. Intelligence, 3. People, Planet and Prosperity and 4. Organisation.
For Intelligence predictions, 2022 will be dominated by data centric solutions that become increasingly sophisticated, where multi-dimensional data becomes the foundation for better decision making and workflow management. This is accentuated through the application of AI to data to improve decision making.
At the centre of intelligence are the suppliers throughout the supply chain, where transparency is critical to managing risk from cyber security to supplier due diligence. Platforms are delivering real time insights that enable users to move from measurement to action.
HICX’s “Intelligence” prediction for 2022 is that CPOs will boost resilience by addressing supplier data challenge.
Why? According to Deloitte, strong digital capabilities can make organisations and their supply networks more agile, by improving data visibility and the ability to collaborate with suppliers. Additionally, CPOs recognise poor data as an issue. 46% of CPOs in a recent HICX survey also admitted to needing more streamlined business processes for suppliers. As the pandemic continues to demand supply chain resilience, we expect to see more leading organisations investing in supplier-centric systems in 2022, to unlock good quality data visibility.