In this panel, experts from Accenture, FrieslandCampina, and IntegrityNext shared their insights on critical themes like AI, sustainability, and data-driven decision-making:

At Keelvar Konnect 2024, procurement leaders came together to discuss not only the current trends in sourcing but also the transformative technologies and strategies shaping its future.

Sahil Ramakrishnan from Accenture opened the discussion on AI’s role in procurement, emphasizing that Accenture takes a pragmatic approach to AI. He described AI as a tool that can address the talent shortage by making procurement processes more efficient.

"AI helps us make sense of complex data," Sahil explained, "from extracting contract terms to classifying thousands of transactions." He pointed out that AI’s potential lies in category intelligence, where it can synthesize market trends, commodity prices, and supplier data to inform strategic sourcing decisions.

Dylan Alperin, VP of Professional Services at Keelvar echoed Sahil’s sentiments, noting that "the hype cycle around AI reached a peak faster than with previous technologies, but we're now reaching a point where real value is emerging." He expressed optimism that AI will continue to mature quickly, helping procurement professionals navigate data-rich environments with more precision.

"The hype cycle around AI reached a peak faster than with previous technologies, but we're now reaching a point where real value is emerging"

Sustainability as a Core Business Requirement

Sustainability was a central theme, with Bastian Stroucken of IntegrityNext stressing that "sustainability should be seen as an opportunity, not a burden." He highlighted the shift from superficial sustainability claims to concrete actions and transparent reporting. "The days of simply putting ‘We strive for sustainability’ on your website are over," he said, explaining that consumers, investors, and regulators now expect measurable commitments.

Bastian shared how IntegrityNext’s platform helps companies manage multi-tier supply chain visibility by integrating sustainability data across suppliers. This transparency not only supports compliance with regulations like the EU's CSRD but also strengthens partnerships by holding suppliers accountable for environmental and social standards. "Data has become crucial for any purchase decision—whether it’s for a customer, a partner, or an investor," he added, emphasizing the value of sustainability data for informed sourcing.

Watch an interview with Bastian Stroucken of IntegrityNext

Dylan reinforced the importance of integrating sustainability into procurement, challenging attendees: "It’s not just about cost anymore. Cost remains critical, but sourcing decisions now must consider factors like transit time, service levels, and environmental impact." He encouraged companies to leverage available data for visibility and to hold suppliers accountable in areas like CO2 emissions, a category often overlooked.

"Cost remains critical, but sourcing decisions now must consider factors like transit time, service levels, and environmental impact"

Building Resilience in Volatile Markets

Kasia Pietrucka-van Rijnberk from FrieslandCampina provided insights into how her company has adapted to recent market volatility, from COVID-19 to fluctuating commodity prices. She highlighted FrieslandCampina’s emphasis on risk management, supplier collaboration, and flexibility, sharing that they now prioritize contingency planning as a qualifier for contracts. "We don’t just accept what suppliers say anymore. We go deeper to understand their backup plans, lead times, and response capabilities," she explained.

Kasia also discussed the company’s investment in cost modeling and supplier segmentation, allowing them to approach sourcing with a more strategic mindset. “We’re not just skimming the surface. By understanding the true cost structure and categorizing our suppliers, we can target the areas where we can add the most value,” she said.

Dylan praised this approach, noting that "The shift to cost modeling allows you to get into the minds of your suppliers. When you know the breakdown of their costs, you have more levers to negotiate on, which ultimately leads to better outcomes for both parties."

‍

The Role of Data in Decision-Making

Throughout the panel, the speakers emphasized the critical role data plays in modern sourcing strategies. Dylan described it as the "foundation for better decisions," highlighting that procurement teams today have access to a wealth of data across various dimensions of sourcing. However, the challenge lies in effectively harnessing this data to make informed choices.

Kasia explained how FrieslandCampina has embraced data by implementing real-time market analysis and dashboards, enabling category managers to make decisions backed by current trends. "Before, category managers did everything from drafting tenders to analyzing markets. Now, we empower them to focus on strategic elements while automated data processes handle the rest," she shared.

"Before, category managers did everything from drafting tenders to analyzing markets. Now, we empower them to focus on strategic elements while automated data processes handle the rest"

‍

AI’s Growing Role in Procurement User Experience

Sahil also touched on the role of AI in enhancing user experience within procurement. "We see clients using AI to simplify the procurement experience for the broader organization," he noted.

By making the sourcing process more intuitive, AI is helping procurement teams encourage adoption of digital tools and improve overall efficiency. Sahil and Dylan both pointed to AI-driven user experience as a game-changer, not only for easing workload but also for making sophisticated tools accessible to all users, regardless of technical background.

‍

Looking Ahead

As the panel concluded, Bastian urged the audience to “embrace sustainability as an opportunity, not just a checkbox.” He and the other panelists agreed that sustainable sourcing, AI-driven data insights, and resilient supplier relationships are set to redefine the future of procurement.

“Embrace sustainability as an opportunity, not just a checkbox”

The Future of Sourcing panel at Keelvar Konnect 2024 provided a roadmap for companies looking to harness these trends. With advances in AI, data transparency, and strategic supplier collaboration, sourcing leaders are empowered to build a more sustainable, resilient, and efficient procurement function.

Stay tuned to our LinkedIn for exciting news of the next Keelvar Konnect event, coming in 2025.