Purchasing is being recognised as a key route to adding value to a firm’s activities, and to satisfying stakeholder and customer demands.
There is an abundance of literature which argues that purchasing is undergoing significant transformation. This transformation is thought to be coming about primarily because of a shift in the nature of the business environments in which buying and selling goes on. The mass production of the past brought stable organisational routines, and economies of scale, as well as predictable (or at least plentiful) customers. However, today’s markets demand flexibility, innovation and show rapid swings in demand. Firms must be leaner, quicker and more proactive to keep abreast of things, and avoid being left behind by competitors and customers.
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In our industry the competitor that's best at managing the supply chain is probably going be the most successful competitor over time. It's a condition of success...
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Buyers and suppliers need to have a clearly defined exit strategy agreed during the pre-contract stage to avoid difficulties should the relationship turn sour...
Forward integration is an aspect of strategic development relating to securing inputs and acquisition … most often used to refer to an organisation’s attempt to...