On August 23rd 2019, CPO Innovation Media conducted a pre-conference Tweetchat on DELIVERING VALUE IN PROCUREMENT WITH RPA which was a precursor to the Tech Supply Chain Conference, Exposition & Awards 2019 which is going to be held on the 19th – 20th September 2019 in Mumbai.
One of the major concerns of an organization is that the procurement team spends most of their time on administrative tasks. They have gradually started incorporating Robotic Process Automation (RPA) to take up the administrative tasks to free the procurement to focus on other activities.
Earlier the procurement team had to process the procurement request and create a purchase order manually. It led to a delay in raising a Purchase Order and scope for errors. With RPA integrated into the procurement process, the team can complete the entire process from raising a purchase request to raising a purchase order within a short span of time. Once the purchase request is raised, the software automatically follows a workflow such as assessing the request, seeking approval from concerned department head and processing the request to raise a PO.
RPA helps organizations in the end-to-end management of demand and supply planning. It removes the silos between the different departments such as managing procurement, shipping, warehousing, and inventory, and manages them as a single centralized team. RPA is particularly helpful in job-by-job level tasks. So, if the software detects that the warehouse is full of inventories, it automatically notifies the procurement department about it. This helps the procurement team to take stock of the situation.
In this tweetchat, industry experts shared their valuable insights in tweetchat by answering some of the questions.
Here is a glimpse of what the industry experts said:
We thank all our experts who participated in this tweetchat and shared their valuable insights.
Stay tuned for more such events. Follow us on twitter @CPOInnovation.