Digital Transformation in Procurement: Implementing Automated Workflows and Approval Systems
Year: 2024
Type: article
Abstract: Automated procurement and approval process is the key concept of digital transformation in procurement that energises operations by preventing human error and shortening procurement time. These systems are discussed in the subsequent sections of this research based on secondary data collection from industrial reports and academic literature. Several research findings show a 35% error decrease at Siemens, a 40% reduction in approval times at GE, and a 25% upsurge in compliance levels at Unilever. These findings show that automation reduces resource consumption and leakage, increasesthe visibility of operations, and leads to considerable cost efficiency, as exemplified by IBM, which saves $1 billion annually. This paper aims at unfolding strategies on how digital procurement can be implemented to counter the adoption of procurement and supply management and thus supports the notion that contemporary procurement is instrumental as an innovation weapon regardless of barriers such as legacy systems and workforce. Keywords: Procurement digitalization, automated workflows, error reduction, compliance, cost savings, purchasing cycles.
DOI: 10.55041/ijsrem29602
Author: Kosalee Thameera Galkaduwa
Language: English
Subfield: Industrial and Manufacturing Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W4405765342