Past Event: ProcureCon Europe

Inspirational Stories by Top Executives & CPOs from Europe’s Largest Manufacturing Companies

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Event Type: Annual Forum

Topic: PROCUREMENT TRANSFORMATION

Date: 9-11 October

Location: Prague

Latest Innovations, Digitalization Strategies, and Disruptive Technologies Brought Together Within A Unique Community Of Procurement Leaders Inspirational Stories From Top Executives & CPOs Representing Europe’s Largest Manufacturing Companies

Event At A Glance

Nectain joined this highly interactive conference and enjoyed 3 days of bespoke presentations, thought-leading debates, invaluable insights, panel discussions, and networking. ProcureCon speaker faculty represented the most senior procurement executives from the leading manufacturers in Europe with the highest spend starting at €250m, who were giving an unbiased advice and gladly sharing their best knowledge about driving innovation, making most out of supplier relationships, and expanding the overall procurement function to add more value to the entire business.

Key Takeaways & Features

  • Digital Transformation and Supply Chain Innovation become a new focus of business executives, namely in terms of Process (new procurement channels & purchase interfaces, Efficient Tail Spend Management), System (Robotic Master Data Management, Contract Compliance, Predictive Maintenance, etc.), Performance (KPIs pulled together from supply base via RPA-based technologies, Risk Management), Strategy & Legal (strategy development to level 3, contract design & configuration)
  • Over 30% of procurement leaders are already employing AI-based solutions, such as Cloud, Mobile, IoT, Blockchain, and RPA-based software solutions. However, investing in technology needs a more discerning approach — put into people, not only platforms
  • The speaker faculty agreed that Supplier Collaboration (32%), Supply Chain Sustainability (20%), Digitally-driven Value Chain Insights (18%), Global Sourcing in Emerging Markets (14%), Innovative Approach to Tendering (8%), and Leveraging Supplier Finances should be prioritized beyond all. But the only winning choice is to start a phased and structured approach right away. Forget about the silver bullet
  • The modern Procurement needs more flexibility and adaptability. Shorter LifeCycle, Climate Change, Procurement 4.0, De-Globalization, GDPR, A.I., and Changing Working Concepts are calling procurement leaders to find a proper balance between Global Impact and Savings Contribution to their organization

Concluding Thoughts

1) Digital Tools are driving the original concept of Risk Management and its evaluation models to fundamental reinterpretation 2) Intelligent approach to processing, analysis, and decision-making is the key to unlock the full potential of data and its growing overabundance 3) End-to-End Visibility, Situational Awareness, Holistic Risk Assessment, and Organizational Transparency are the four pillars of SCRM to be always on top  

New technologies such as artificial intelligence, machine learning, and robotic process automation offer great promise, but only if the underlying data is of top qualityMalcolm Wheatley

 
 

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