Future Trends in Purchasing

Essay from the year 2010 in the subject Business economics - Supply, Production, Logistics, grade: 98.00, University of Phoenix, course: ISCOM 373 Global Sourcing and Procurement, language: English, abstract: Future Trends in Purchasing PaperFor two decades manufacturers have concentrated on continuous improvement efforts to strengthen the ...

Essay from the year 2010 in the subject Business economics - Supply, Production, Logistics, grade: 98.00, University of Phoenix, course: ISCOM 373 Global Sourcing and Procurement, language: English, abstract: Future Trends in Purchasing PaperFor 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.