What is Procurement Digitalization?

Procurement digitalization is the transformation of legacy systems integrated into a single ERP system used by everyone in the supply chain internally.  Internal functions include purchasing, engineering, manufacturing, marketing, logistics, accounting, and so on.

Internet linkages, network communications, and e-sourcing applications are used for external integration of the supply chain. External stakeholders include end customers, third-party logistics firms, retailers, distributors, warehouses, transportation providers, suppliers, agents, financial institutions, and so on.

Procurement digitalization aims at the concept of information visibility and collaboration via these technologies.