As the world’s fastest-growing procurement and supply chain event, Procurement & Supply Chain LIVE 2023 was a disruptive learning and networking event that showcased some of the industry’s top speakers across innovation, thought leadership and strategy.
Overcoming Procurement Challenges and Enabling Innovation with Digital Marketplaces
Speaking at Procurement & Supply Chain LIVE 2023, Matt Yanchyshyn, General Manager and Partner Engineering at AWS discussed the role of procurement in a modern business environment, the transformational benefits that digital marketplaces can provide, and the CPO’s role in enabling agility and efficiency in modern enterprises.
The shift in procurement expectations
During his keynote, Yanchyshyn emphasised the shift in procurement expectations, particularly among the younger generation who demand self-service capabilities and rapid deployment.
As such, digital marketplaces can be used to meet a wide spectrum of needs within the procurement industry. Not only can digital marketplaces simplify legal processes and speed up deployment, but they can also facilitate compliance and governance, which ultimately saves time and resources.
"Visibility when you procure through digital marketplaces increases greatly... You can see all of your thousands of vendor listings in one place,” said Yanchyshyn.
Security - The first hurdle
Highlighting the importance of security, Yanchyshyn emphasises the balance of being secure while not restrictive, slowing down the procurement processes. It is the CPO’s role to adapt their procurement processes to the cloud and digital marketplaces in order to become enablers of agility and efficiency in their organisation.
“I'll leave you with one thing I always tell my team. This year we have goals and we talk about what we're going to deliver. But I always say to the teams: ‘all that anyone remembers are the results delivered’. So important to move quickly.”
To watch any of our other speakers from Procurement & Supply Chain LIVE 2023, click here.
Celebrating exemplary achievements in the fields of procurement and supply chain management, the Supply Chain AWARDS - debuting in 2024 - acknowledges companies, professionals, and projects that demonstrate exceptional performance, innovation, and strategic thinking. Click here, to find out how you can enter.
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