Future Trends in Purchasing Paper
For two decades manufacturers have concentrated on continuous improvement efforts to strengthen the organizations competiveness and profitability. To assist organizations in continuous improvement efforts, programs like just-in-time (JIT) and total quality management (TQM) were introduced. Yet organizations continue to seek methods to continually improve ones strategic position and planning. As a result “The procurement function and purchasing managers in a business system become significant to the overall business success” (Mehra & Inman, 2004, p. 1, para. 1). This paper will review the benefits and risks of e-business, future opportunities and trends in purchasing, and the future challenges in purchasing.
Inhaltsverzeichnis (Table of Contents)
- Future Trends in Purchasing
- Benefits of e-business
- Risks of e-business
- Future Opportunities in Purchasing
- Future Trends in Purchasing
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper examines the evolving landscape of purchasing, specifically analyzing the benefits and risks of e-business, exploring future opportunities and trends in purchasing, and identifying the challenges that lie ahead in this field.
- The benefits and drawbacks of e-business in procurement
- Emerging trends in purchasing practices, including performance benchmarking, long-term agreements, and supplier-managed inventory
- The role of technology in optimizing purchasing processes and enhancing organizational efficiency
- The impact of e-business on employee roles and skillsets
- The future challenges and opportunities facing purchasing professionals
Zusammenfassung der Kapitel (Chapter Summaries)
The paper begins by outlining the significant benefits of e-business for organizations, including cost-effective communication and marketing, expanded market reach, and streamlined order processing. However, it also acknowledges the risks associated with e-business, such as difficulty in quantifying costs, the need for highly skilled employees, and vulnerability to security threats.
The paper then delves into future opportunities in purchasing, highlighting the potential for value-added processes, such as service bundling and embedded services within product purchases. It explores emerging trends in purchasing, including performance benchmarking, long-term agreements, supplier-managed inventory, and procurement cards.
Schlüsselwörter (Keywords)
This paper focuses on key concepts such as e-business, purchasing, procurement, value-added processes, performance benchmarking, long-term agreements, supplier-managed inventory, procurement cards, and the impact of technology on purchasing processes.
- Quote paper
- James Tallant (Author), 2010, Future Trends in Purchasing , Munich, GRIN Verlag, https://www.grin.com/document/167298
