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Roundtable Insights

In the face of evolving global dynamics, organisations and governments must adapt swiftly to manage costs effectively and navigate disruptions. The rapidly changing environment demands the adoption of innovative tools and procurement frameworks.

Qatar’s response to recent global challenges highlights a proactive approach towards innovation in procurement. The pandemic and economic blockades have served as catalysts, compelling stakeholders to rethink procurement strategies, resulting in a stronger, more resilient framework geared towards future needs.

We hosted a round table discussion titled ‘Leveraging Procurement Frameworks for Innovation’ with leaders from various sectors including Qatar Research Development and Innovation Council and Amazon Web Services, centred around two key insights:

  • Evolution of Procurement

    In the digital age, procurement has evolved from a logistical function to a strategic, integral component of organisational strategy.

  • Current Needs:

    Traditional methods are increasingly obsolete; a dynamic and agile approach is necessary to keep pace with technological advancements and market demands.

Here’s how the organisations represented on our panel are addressing the need for innovation in procurement:

  • Open Innovation at QRDI

    This initiative has redefined procurement by fostering partnerships with startups and academic institutions to co-create solutions, thereby enhancing the country’s innovation ecosystem.

  • Operational Overhaul at Hassad

    In response to the blockade, Hassad re-engineered its procurement strategies, enhancing local production capacities and streamlining operations — leading to a 30-35% reduction in procurement time and a significant increase in production.

  • Technological Integration at AWS

    AWS has revolutionised procurement through its Marketplace, offering a centralised platform that reduces risks and optimises spending through a streamlined procurement process and access to a wide range of software solutions.

The Way Forward

During our discussion, we identified three key areas of focus necessary to cultivate a sustainable and innovative procurement environment in any organisation.

  • Reimagining procurement processes:

    Eliminate unnecessary steps and focus on data-driven decisions to enhance efficiency.

  • Embracing open innovation:

    Collaborate with external entities to harness creative solutions and technologies that can drive transformation.

  • Utilising digital platforms:

    Leverage platforms like AWS Marketplace to access innovative tools that ensure efficient procurement practices.
    If you’d like to learn more about implementing these strategies at your organisation, contact one of our team.

If you’d like to learn more about implementing these strategies at your organisation, contact one of our team.

Let’s innovate together

Talk to Ibtechar about your next innovation project — and we’ll guide you through each stage from the drawing board to project implementation.

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