Because procurement is still relatively immature compared to some of the other functions, Bain envisages a futuristic road map ahead for the company. “We will continue to build our strategic capabilities around broad cost reduction, supplier management, supplier performance risk, and supplier diversity. We will also leverage more digital capabilities, be it automation on the operational procurement side or using AI and machine learning to uncover strategic insights in spend data or market data in order to better collaborate and innovate with the supply base,” says Brian P. Murphy, Associate Partner, Procurement, Bain & Company.