Managers across the globe discuss the impact of digitalization on their business models. Among many other functions, procurement is strongly impacted by this development. However, “Procurement 4.0” goes far beyond the increased use of IT systems. It also has an impact on strategic dimensions such as supplier relationships. Data in this context will have a more important, if not critical, role- whether as some sort of “currency” in negotiations or as the basis for many procurement decisions, from operative order processing to supplier selection.
