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Chapter 3: Purchasing Trends of the Future

Chapter 3: Purchasing Trends of the Future. Benny Miao John Romano Stephen Strohecker. Virtual Supply Chain. Extract inefficiencies from the existing supply chain. Source Development. Coordinate strategic objectives with suppliers. Competitive Bidding. Ensures market pricing

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Chapter 3: Purchasing Trends of the Future

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  1. Chapter 3: Purchasing Trends of the Future Benny Miao John Romano Stephen Strohecker

  2. Virtual Supply Chain Extract inefficiencies from the existing supply chain Source Development Coordinate strategic objectives with suppliers Competitive Bidding Ensures market pricing Outsource tactical procurement buys Effective Supplier Management Maximizes Shareholder Value TRENDS OPPORTUNITIES

  3. Strategic Supplier Alliances Creating win-win supplier-buyer relationships Negotiation Strategy Focus on cost rather than price Complexity Management Ensures people and processes are aligned toward strategic supply chain objectives Effective Supplier Management Maximizes Shareholder Value TRENDS OPPORTUNITIES

  4. Implications Going Forward • Reorganize corporate structure to effectively manage new supply chain initiatives • Integration of multiple disciplines into cross-functional procurement teams • Creation of infrastructure system to manage the transition and implementation of the new supply chain

  5. Challenges to Implementation • Establishing communication channels to permit the free flow of information between supplier & buyer. • Obtaining management commitment and “buy-in” to the new business process. • Education of internal and external customers of the goals and benefits associated with developing effective supplier management

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