Business, Management and Accounting
3 years ago

Digital procurement revolutionizes supplier relationships, driving business innovation and efficiency.

Procurement goes digital: the supplier relationship management case
Elisabeth Fröhlich, Kristina Steinbiß

Paper Summary

The article discusses how purchasing departments are now focusing on more than just cutting costs. They are building strategic relationships with suppliers to drive innovation. This shift is known as "Procurement 4.0" and involves using digital tools to improve buyer-supplier relationships. By embracing digitalization in supplier management, businesses can streamline operations and gain efficiencies.

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