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Procurement goes digital: the supplier relationship management case

  • A shift in attitudes to purchasing departments can be perceived. No longer is the chief goal solely to reduce costs; the procurement function is assuming strategic relevance in the business model, leveraging the supplier as a foundation for innovation. The knowledge accumulated by suppliers is accessed over the journey of long-term partnerships to streamline business practice. Businesses are finding themselves in increasingly competitive environments, and thus need to address inefficiencies in supplier management. “Procurement 4.0” is a concept used in discussing digitalisation in business processes, referring to the process of supplier relationship management and optimisation. This model and its application to supplier relationship management will be the focus of this article. Realising the efficiencies to be obtained in buyer-supplier relationships through “Procurement 4.0” will be explored, primarily through an emphasis on digitalisation of the relationship between the procurement department and supplier.

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Author of HS ReutlingenSteinbiß, Kristina
Erschienen in:International Symposium on Business and Economics : proceedings book, Podgorica, Montenegro, 5th-8th September 2018. - (Global Science Institute publications ; 3)
Publisher:Global Science Institute
Place of publication:Podgorica
Editor:Verda Canbey-Özgüler
Document Type:Conference Proceeding
Year of Publication:2018
Tag:digitalization; maturity models in procurement; procurement 4.0; strategic procurement; supplier relationship management
Page Number:9
First Page:32
Last Page:40
DDC classes:330 Wirtschaft
Open Access?:Ja
Licence (German):License Logo  Open Access