The event
The Digital Procurement Summit 2023 was held in Kuala Lumpur, Malaysia. Rrahul was invited as a guest speaker to talk about the metaverse for the procurement industry.
The talk
Rrahul addressed 50 global industry experts on the opportunities the metaverse offers procurement and how to put it into practice.
His starting point was that immersive technology is an "awareness first" industry. The first step towards adoption is to understand the details and possibilities fully. The metaverse is not for everyone, and certainly not for businesses that want it only because it is a trend.
Key points
Start with strategic alignment
Before adopting the metaverse, check that your core business objectives match what the technology can offer. It is not a one-size-fits-all solution. Identify the specific problems, opportunities or goals in your procurement operations that it can address.
Understand it fully first
Leaders should make understanding the metaverse a priority. Seek expert guidance on its applications, challenges and implications for your industry.
Long-term value over trends
Look at how metaverse solutions can bring lasting benefits to procurement processes, workforce development, customer engagement and business results. Put money into projects that fit your organisation's long-term vision and growth plans.
