IoT and Purchasing

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IoT and Purchasing!

By Hervé Legenvre, PhD EIPM

 

Release of EIPM Value Creation Observatory report on the opportunities brought by The Internet of Things (IoT)

At the EIPM annual conference we will release our new report from the EIPM Value creation Observatory. Through a series of case study on IoT related project, we have put together a Roadmap for the purchasing teams who see the Internet of Things as an opportunity to transform their industry, the company and themselves.

IOT will bring a tectonic change in the structure of industries in the next 20 years. More disruptions and value chains reconfigurations have to be anticipated. We have only seen the first sparks of a broader transformation.

All companies will need to explore unfamiliar knowledge areas, acces new complementary capabilities, and get involved in innovation networks. Collaboration will be required amongst players who currently see each other as coming form different planets. Competition and collaboration amongst unexpected players will emerge over time and will decide of the fate of many companies.

The type of collaboration needed will vary. Some will source IoT solutions offered by rapidly changing markets, other will combine multiple external opportunities to enrich their process offerings and business models, others will need to harness external knowledge to reinvent their core business. A few will co-create new competitive foundations while others will create new applications and business models to extend their activities.

In such a context, as opportunities come from outside, purchasing teams have a unique opportunity to play a role as an transformation orchestrator:

 

 

Find out about our research: http://www.eipm.org/research/observatory/ 

 

Hervé Legenvre, PhD

EIPM Value Creation Observatory Director