Procurement 4.0 is a transformation of the procurement function to incorporate advanced digital technologies. The technologies can radically change both how supply chains are managed and the necessary staff skill sets for success.

The Fourth Industrial Revolution, named Industry 4.0 (I4.0), has been rolling out across functions for a decade, intensifying as advanced technologies developed and improved. Procurement was not an early embracer of the digital transformation, but over time it has wholeheartedly joined the continuous improvement effort through the use of sophisticated technologies, like blockchain, Artificial Intelligence (AI), cloud computing, Internet of Th....