BMR report 2021: The COVID-19 issues affecting procurement
Big Market Research (BMR) has published a new report focusing on the effects of COVID-19 on the supply chain and procurement software market.
Titled ‘Global Supply Chain Procurement Software Market Report 2021’, the report also analyses aspects related to the market, including profitability and market share.
Other aspects it focuses on are manufacturing, advertising, sales and key market players such as SAP, IBM, and PROACTIS.
BMR claims the report will benefit companies in the supply chain and procurement sectors by offering “statistical data” on the value of the market today and up to the year 2026.
It also says it will provide an “exclusive insight into the key trends affecting the supply chain and procurement industry” and “tracks the leader market players” who are shaping its structure.
Information in the report covers countries such as North America including Canada and Mexico, all of Europe, the Asia-Pacific, and the Middle East and Africa, and provides details of both regions that are dominating the market and regions with slower growth.
BMR claims that the report is a “one-stop reference point” for industrial stakeholders to receive a market forecast up to 2025.
The report answers several key questions. These are:
- What are the top opportunities and trends that are currently ruling the market?
- What are the drivers that are shaping the Supply Chain Procurement Software market?
- What are the opportunities and challenges for the Supply Chain Procurement Software market created by the outbreak of the Covid-19?
- What are the segments of the Supply Chain Procurement Software market that are included in the report?
- What are the regional developments prominent?
The Supply Chain Procurement Software Market is defined by a chain of product manufacturers, material suppliers, manufacturing equipment developers, and technology developers.
How IBM Watson Orchestrate uses AI to automate procurement
Announced at THINK 2021, IBM unveiled Watson Orchestrate to help businesses that are rapidly embracing automation as part of their digital transformation.
IBM says automation software can be used to augment human capabilities and free-up staff to focus on more strategic work that requires critical thinking and human interaction.
This very thought was echoed by Ninian Wilson, Vodafone Group Procurement Director, when interviewed by Procurement and Supply Chain Digital magazines recently, as he shared his views on an exciting future for procurement.
Wilson explained how Vodafone is shifting “to what we call ‘autonomous sourcing’, which is going to be the next sort of quantum leap in procurement – procurement that runs itself with almost no human intervention”.
Watson Orchestrate will provide workers with access to their own interactive AI to help them perform tasks faster – from procuring approvals to contract lifecycle management.
Market research commissioned by IBM recently found that almost one-third of IT professionals surveyed globally say their business is now using artificial intelligence (AI), with 43% saying their company has accelerated their rollout of AI as a result of the COVID-19 pandemic.
The Global AI Adoption Index 2021 revealed that while AI adoption was flat in 2020, the need for AI has been accelerated and is already changing how businesses automate key workflows.
5 Ways IBM Watson Orchestrate Works Smarter
1. Self-serve and easy to use automation
Business professionals can use natural language to interact with Watson Orchestrate, without the need for IT skills.
2. Learns and improves as it goes
Watson Orchestrate understands and maintains context based on organisational knowledge and prior interactions. It can pull data from Salesforce, SAP or Workday.
3. Improves productivity and business performance
Research from Forrester shows IBM’s automation technologies can help businesses reduce manual processes by 80%.
4. Part of a single portfolio for business and IT AI-powered automation
While most technology companies tend to focus on either business or IT automation, IBM offers a single portfolio comprising both sets of capabilities, all built on Red Hat OpenShift and available to run anywhere.
5. Supported by an automation ecosystem
According to a new “Global AI Adoption Index 2021” survey , 80% of companies are already using, or plan to use in the next 12 months, automation software and tools.
More than 30 companies have said they intend to join IBM’s ecosystem of partners using IBM Cloud Paks for Automation, including Confluent, GitLab, HCL Technologies, Infosys, Intel, Tata Consultancy Services, Whitespace, and Wipro.
Watson Orchestrate is currently in preview in the IBM Cloud Paks for Automation.