Council Post: Procurement And Industry 4.0

Founder and CEO of PurchaseControl, with decades of international experience in Procurement, Spend Management, and Technology. Often, discussions concerning digital transformation in modern enterprise focus primarily on virtual tools driven by artificial intelligence -- e.g., robotic process automation, data digitization and analytics, machine learning, etc. However, in considering the ways in which procurement professionals can build value and create savings for their organizations through digital transformation, we must also consider the technologies connecting that transformation to the physical world via Industry 4.0. The idea of Industry 4.0 comes from the broader notion of the Fourth Industrial Revolution (4IR). Building upon its predecessors, 4IR introduced new technologies -- automation, digitalization, artificial intelligence, cloud computing -- that fundamentally transformed work, life and play for billions of people.