Bahrain is poised to make a major leap in its digital transformation in the coming years, as it embraces the latest generation of smart procurement systems, commonly referred to as Procurement 4.0, the Kingdom’s Minister of Housing and Bahrain Economic Supply Projects Chairman, H.E. Eng. Bassim Bin Yacob Al Hamer announced.
“Connected networks enable us to not only gather information but to draw meaningful insights from vast quantities of seemingly unrelated data,” he said. “As such, the role of procurement leaders is changing. As their day-to-day tasks are taken over by cloud-based applications, they can focus on strategic priorities, such as strengthening supply chain resilience, safeguarding their brands from third-party risk, and cultivating new sources of innovation.”
She added: “Over the years, Bahrain has developed a world-class regulatory environment that ensures excellence and competitiveness in all government tendering and purchasing practices, which in turn, has significantly boosted global investor confidence in the Kingdom, facilitated private sector growth, and positioned us as a business friendly destination. At the Bahrain Economic Supply Projects, we are focused on making business in Bahrain easier and more efficient, supporting the Kingdom’s Vision 2030 objectives towards economic sustainability and diversification.”
Mr. Al Hamer was presenting a keynote speech at the third edition of the Procurement Middle East 2019 conference and exhibition, which officially opened today. The three-day event is supported by the Bahrain Economic Supply Projects and held under Mr. Al Hamer’s patronage. The conference, which is focused this year on digitalisation, features over 20 high-profile speakers, a workshop on VAT and its impact on the industry, and an exhibition showcasing procurement chain automation solutions.
Bahrain Economic Supply Projects Secretary General, Dr. Mohamed Bahzad, who also spoke at the event, said: “This is a landmark year for us as the Bahrain Economic Supply Projects celebrates 15 years of serving the Kingdom of Bahrain. As the government’s procurement partner and an independent regulator of government procurement practices, we are privy to a vast amount of data about economic activity in the country. Digitalisation is what makes it possible for us to mine this data for useful information, helping us identify pinch points, anticipate future procurement needs, and ensure the best use of public resources. As such, we are pleased to support this conference and engage in this discussion on such an important and relevant topic.”
Yesterday also marked the launch of the Procurement Middle East Industry Recognition Awards, which celebrated achievements in the procurement sector in the region with a glittering awards ceremony. The Procurement Team Award was clinched by the Municipality and Planning Department of Ajman Municipality, while the Procurement Risk Management Award went to Bahrain-based Gulf Petrochemical Industries Company (GPIC). Jaggaer, a provider of cloud-based business automation solutions, walked away with the Most Innovative Technology Award. The Department of Culture and Tourism Abu Dhabi received the ‘We’ve Got the Talent Award’, which recognises organisations that actively nurture and retain procurement talent.
Commenting on his company’s win, GPIC Procurement & Warehousing Manager Ahmed Al Arabi said: “Digital technologies have been responsible for the biggest changes to procurement and supplier management in recent years, allowing for increased transparency and rapid response times. This empowers companies to make more informed risk assessments. GPIC is honoured to be recognised for its procurement risk strategies which have allowed us to build a robust and sustainable supply chain to support our growth objectives.”
She added: “In line with our mandate to support the Kingdom’s Economic Vision 2030 to create a more competitive and sustainable economy, the Bahrain Economic Supply Projects supports the digital transformation of the economy, and the procurement sector’s role in spurring business activity. As the government’s partner for its procurement needs, we gather an enormous wealth of information about economic activity in the Kingdom, and digitalization can capture the information and faster the decision making process.”
This year’s conference also marks the launch of the Procurement Middle East Industry Recognition Awards, which celebrate achievements in the procurement sector in the region. The categories are Procurement Risk Management, Procurement Team, Most Innovative Technology, Procurement Consultancy and ‘We’ve Got the Talent’, which recognizes organizations that actively nurture and retain procurement talent.