StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Evolution of Purchasing in Supply Chain - Research Paper Example

Cite this document
Summary
This research paper “Evolution of Purchasing in Supply Chain” aims at describing the evolution of purchasing in the supply chain. Today's acquisition requires various technological advances that enable supply of procured products in an efficient manner…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.7% of users find it useful
Evolution of Purchasing in Supply Chain
Read Text Preview

Extract of sample "Evolution of Purchasing in Supply Chain"

Download file to see previous pages

This technique gave many business organizations the motive to venture into diverse money-oriented activities that aim at simplifying arbitrage, reducing agency cost, improving the price-to-value relationship, leveraging the money spent in an organization and implementing contracts that homogenize terms and condition across the company or organization. As a result of strategic sourcing, customers could get their products at the right time, at right quantity, at the right quality, at the right price, in the right place from the right supplier.

Although strategic sourcing provided almost everything that an organization requires for quick and higher profit gain, other values were not obtained, and supplier relationship management (SRM) become the succeeding evolution in purchasing. This concept involved the supplier and the customer establishing an interpersonal relationship with middle persons. The companies would then use the relationship or any organization involved to maximize their benefit from that interaction. It requires careful collaboration with the primary suppliers to realize and uncover new benefits while reducing all the risk involved in the operation.

With all these concept being embraced in business strategies, the current activities is being supplied with integrated innovation and business intelligence capabilities that aim at addressing the changing continues customer demands. In conclusion, purchasing in the supply chain has evolved even more to a greater level.

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Evolution of Purchasing in Supply Chain Research Paper”, n.d.)
Evolution of Purchasing in Supply Chain Research Paper. Retrieved from https://studentshare.org/business/1702402-evolution-of-purchasing-in-the-supply-chain
(Evolution of Purchasing in Supply Chain Research Paper)
Evolution of Purchasing in Supply Chain Research Paper. https://studentshare.org/business/1702402-evolution-of-purchasing-in-the-supply-chain.
“Evolution of Purchasing in Supply Chain Research Paper”, n.d. https://studentshare.org/business/1702402-evolution-of-purchasing-in-the-supply-chain.
  • Cited: 0 times

CHECK THESE SAMPLES OF Evolution of Purchasing in Supply Chain

Supply Chain & Organisational Structure in British Army

Process – The process followed by the organisation is important as without integrating the procedures followed within the organisation, the corporation can not expect to attain success in supply chain strategy e.... The paper "supply chain & Organisational Structure in British Army" states that British Army should try and maintain a cordial relationship with its suppliers so that they can influence their suppliers to make more customized products that would enhance the core competencies of the group....
8 Pages (2000 words) Term Paper

Sales and Operational Planning in Supply Chain Management

According to (Weele, 2010), this can and usually happens when companies visualize more value in reaching out and growing beyond This is a scenario that may be inevitable for Stone Horse supply Company.... In short, Stone Horse supply Company only has to know when and how it should expand and offer its services, products and skills.... In order to effectively manage it, managers, policy makers of Stone Horse supply Company need to understand their different reaches and the organizational implications underlying these reaches or boundaries....
4 Pages (1000 words) Research Paper

Supply Chain Evolution Eras

During industrial revolution, the management and supply strategies were different depending on the innovation level in that time.... Many factories came into existence and work was done through the division and specialization… The development and implementation of electricity, roads, rails, and communications systems provided ways in which supply was done.... The supply chains at that time were suited to move the many products that were being produced....
4 Pages (1000 words) Assignment

Issues in Purchasing and Supply Management

Furthermore, the paper emphasizes the present problems that arise in supply chain management.... The writer of the following essay will shed light on the aspects of procedure of supply chain management related to sales, finance, marketing, production, and procurement.... hellip; According to research, the supply chain is a business procedure that even though still growing has been available for a considerable number of years.... It is evident that the supply chain does influence every business or organization....
4 Pages (1000 words) Essay

E-Business Foundations and Basic Concepts

The decision regarding the choice of qualified vendors rests in the hand of purchasing agents.... In the following stage the potential supplier who can supply the required product are sought out for.... In a b2b marketing process the initial stage involves the need recognition where an individual or a group of individuals is responsible for recognizing the needs of an organization and if that… This stage is more often than not driven by the user....
9 Pages (2250 words) Assignment

Sourcing Material and Services

This paved way for integrated sourcing or supply chain which involves sourcing for a strategic supply chain process and seamless integration of the sourcing process and supply chain activity.... supply chain management: A logistics perspective (9th ed.... Global logistics and supply chain management.... (2012), the traditional sourcing process involved tactical sourcing, limited supply base and functional purchasing....
1 Pages (250 words) Essay

Advances in accounting

Sharing Sensitive Information in supply Relationships: The Flaws in One-way Open-book Negotiation and the Need for Transparency, European Management Journal by Lamming, Richard, Nigel D.... Most companies after exploiting most of the cost reduction methods have resorted to forming supply chains to be competitive in the market.... This involved interviewing purchasing experts in the first and second phases and afterward interviewed sales experts....
4 Pages (1000 words) Essay

Project Management and How it Relates to Purchasing and Supply Management

Definitely, ample management skills apply but the most critical responsibility involves managing the supply chain.... These are a few factors determine the effectiveness of purchasing and supply chain management; however, the critical evaluation shows that unlike project management it requires more detail.... The general idea behind project management is not different from that of purchasing and supply because the methods, processes, and approach applied aim at minimizing the chances of failure or forfeiture....
10 Pages (2500 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us