%201.svg){kind=small}
Latest posts
Download resources
Technology radars: definition & important aspects for procurement specialists
.jpeg)
Technology radars in a nutshell:
A technology radar is a strategic tool for the systematic recording, evaluation and visualization of emerging technologies and trends. For purchasing, it serves as an early warning system in order to identify new procurement markets in good time and adapt supplier portfolios for the future.
Example: An automotive supplier uses a quarterly updated technology radar that categorizes 50 relevant technologies in four time horizons (0-1 year, 1-2 years, 2-5 years, 5+ years) and evaluates them using KPIs such as market maturity and strategic relevance, which led to the early identification of three new key suppliers for e-mobility components in 2023.
Contents
What is a technology radar?
A technology radar is a strategic tool that helps companies to systematically identify and evaluate new and emerging technologies and assess their relevance for their own business. By visualizing technological trends and developments, it enables decision-makers to identify innovation management in procurement at an early stage and set the strategic course for the procurement and integration of new technologies.
Core elements of a technology radar
Significance for purchasing
In procurement, the technology radar plays a decisive role in remaining competitive and integrating innovations at an early stage. It enables buyers to anticipate technological trends, build strategic partnerships and adapt procurement strategies to future requirements. In this way, risks from outdated technologies can be minimized and opportunities maximized through early investment.
Technology radars: from manual monitoring to AI-supported trend analysis
Technology radars are essential tools for companies to maintain an overview in an age of rapid technological progress. They make it possible to identify emerging technologies at an early stage and assess their potential impact on your own business. While traditional approaches were often time-consuming and not very dynamic, today's speed of innovation requires a more efficient approach. The transformation to modern, data-driven methods is therefore essential in order to remain competitive.
Old: Manual technology monitoring
Traditional approach: In traditional technology monitoring, experts gathered information manually through specialist literature, visits to trade fairs and personal networks. This method was heavily dependent on the individual expertise and resources of the employees. The timeliness of the information was often limited and the risk of overlooking important trends was high. In addition, the needs analysis of the collected data was laborious, making it difficult to react quickly to market changes.
New: AI-supported technology radar
Technology Radar: The modern technology radar uses artificial intelligence and big data to identify and analyze technological trends in real time. Automated access to millions of data points from patents, research articles and market analysesenables companies to quickly identify relevant developments. Machine learning algorithms filter and prioritize information, while interactive visualization tools facilitate interpretation. This leads to considerable time savings, greater precision and enables proactive strategic decisions.
Practical example: Implementation at Siemens
Siemens has introduced an AI-supported technology radar to accelerate innovation cycles. By automating monitoring, the company was able to reduce analysis time by 60%. The accuracy of identifying relevant technologies increased by 40%, leading to more efficient investments in research and development. In addition, the technology radar enabled the early development of new business areas and increased market observation in key industries significantly.
Conclusion on the technology radar analysis
The technology radar is an indispensable strategic tool for modern purchasing. It not only enables the early identification and evaluation of new technologies, but also creates the basis for future-oriented procurement decisions. Through systematic monitoring and agile adaptability, companies can secure competitive advantages and minimize innovation risks. Success lies in the balance between proactive technology adaptation and careful risk assessment.
