Digital Procurement Training for Technological Transformation

Just as technology has the potential to transform other major industries, it's also having a major impact on procurement. One thing that is often overlooked in procurement, however, is the need to develop staff that are capable of using these technologies.

This is where digital procurement training comes in, and we're going to discuss what it is, how your company can do it, and how to deal with any roadblocks that may get in your way.

Understanding Digital Procurement and Its Impact

Digital procurement is the use of digital technology and tools to streamline, modernize, and optimize procurement operations within an organization. It offers a variety of advantages over traditional methods, including:

Increased cost savings

By automating many tasks that were previously done manually, you can speed up general processing times and eliminate time-consuming paper-based processes.

Enhanced decision making

Introducing advanced data analysis capabilities leads to stronger data on areas such as market trends of spending patterns, allowing a more detailed and informed view of everything happening within the supply chain.

Stronger supplier relationships

Digital procurement makes communication with suppliers much easier, particularly throughout a global supply chain where suppliers can be spread across multiple locations and time zones.

The Essential Components of Digital Procurement Training

Adapting to the role of technology in the field of procurement is essential, and modern procurement professionals need to be constantly training and upskilling to keep up with such a rapidly developing industry.

Essential skills that have emerged that you need to consider your team developing include:

Data Analytics

One of the main advantages of introducing advanced technologies into procurement processes is their ability to analyze huge data sets into tangible information for businesses. The ability for your team to be able to extract these insights and identify key trends to drive procurement decisions is now a vital skill.

eSourcing

You should also look to develop a strong knowledge of industry-specific eSourcing platforms and tools. These will help you with activities including supplier discovery, contract negotiations, and bid evaluation — further streamlining the procurement process and enhancing cost reductions.

Digital contract management

Procurement contracts can be complex. Modern procurement professionals need to be able to navigate these contracts from creation, through to execution, while also monitoring compliance and accuracy.

Arguably the best way to learn these skills is to apply them to real-world scenarios. This is where eLearning platforms like ours at Skill Dynamics can be so useful. Our technology allows you to accurately simulate these scenarios, providing true hands-on training in a risk-free environment where you can grow and develop at your own pace.

Overcoming Challenges in Digital Procurement Adoption

Of course, adopting and implementing digital procurement practices isn't always easy. You're likely to face several challenges, including:

• Resistance to change
• Lack of technical skills
• Data security concerns

Communication is the key to solving any resistance to change. Engage your stakeholders early with a clear plan and how it aligns with your business's overall goals. Explain how the technology will help achieve these, take the time to address any concerns that remain, and try to involve employees in the decision-making process from an early stage to develop a sense of ownership in the transformation.

Developing strong technical skills within your staff all starts with appropriate training. Invest in your employees and equip them with the skills they need to succeed in an increasingly digital industry. Take a look through our catalog of procurement training courses to see exactly what you could offer to each role within your team — after all, Skill Dynamics does have role-based training that covers over 1,000 role and level combinations within a procurement or supply chain team.

And finally, to deal with data security concerns, develop a strong set of digital best practices from the beginning. Maybe even consider gradually integrating technology to make sure you have the right security processes in place as you slowly digitize your procurement processes.

Successful Digital Procurement Transformations

In the case of one particularly well-known global consumer goods company, implementing AI-powered procurement technology allowed it to optimize its procurement processes and achieve much greater levels of overall efficiency. As part of this, extensive employee training and development was carried out.

Staff learned how to use the technology, but also how to interpret the data and draw insights from it. This was done in the form of hands-on workshops and simulations to help employees apply their skills in a real-world scenario — much like the approach we take at Skill Dynamics.

All of this resulted in significant efficiency, cost, and supplier performance — showing just how important a commitment to training and skill development can be.

Future Trends in Digital Procurement

The world of digital procurement is constantly evolving — so much so that it can seem hard to keep up with everything! To help, here are three future trends we believe could be truly transformative to the procurement industry in the coming years:

• Artificial intelligence (AI), with its ability to analyze huge amounts of data and provide high-level insights to aid decision-making, has the potential to drive significant cost-savings in procurement. Interestingly, it's also relatively accessible and affordable for a lot of companies. This could potentially level the playing field for many smaller companies, allowing them to compete with traditionally larger businesses.
• Blockchain gives companies a transparent and secure method for keeping extremely accurate records. These records, importantly, can't be tampered with. This could help develop trust throughout a supply chain as visibility and traceability both improve across the board.
• The Internet of Things (IoT) is already having a huge impact on procurement processes in supply chain operations and asset tracking. A series of interconnected devices can communicate on a singular network, allowing companies to effectively and efficiently manage things like inventory tracking and demand sensing.

As technology continues to advance, make sure your staff are advancing too. Get in touch with us today to see how we can help train your employees in the technologies that will drive procurement excellence.

Leveraging Skill Dynamics for Your Digital Procurement Journey

At Skill Dynamics, we empower procurement professionals to develop their skills to better suit today's challenges. Designed by industry experts, our courses are constantly updated to make sure we're providing the most up-to-date information in a rapidly changing and evolving industry.

We also appreciate that everyone's aspirations are different and that some have skills that others don't. This is why we tailor every learning path to the specific individual  — we want to make sure that every single learner can get exactly what they need from our courses.

Don't believe us? Get in touch, tell us about your team development goals, and we'll show you exactly how our platform can help teams upskill and achieve what you're looking for as a leader.

Transforming Procurement with Digital Training

Digital procurement training could be the difference between staying where you are and growing and developing as a procurement professional. The industry is constantly changing and adapting to new technologies, so you need to do the same.

Our suite of comprehensive digital procurement training programs is designed to enhance the skills you already have and develop new ones that will keep you at the forefront of any technological innovations within the industry.

Get in touch with us today and let us be your partner in digital procurement excellence for the future.