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What to Expect

Inefficient and maverick buying habits, redundant business processes, and the absence of strategic sourcing are symptoms of poor procurement practices. For today's industrial-age companies to become tomorrow's e-business leaders, their current procurement practices must change. As with any successful e-business effort, efficient procurement strategies integrate a company's business work flow with a robust application infrastructure. Effective procurement strategies reduce the amount of paperwork a firm's employees must complete and lets them focus on their job instead.

The spread of e-commerce is changing the procurement landscape. The rise of Internet trading exchanges (ITE) represents one of the most exciting market developments of recent years. These exchanges alter the process by which raw materials and supplies are procured and supply chains are integrated. Businesses are using exchanges to automate and streamline their requisition, approval, fulfillment, and payment work flows.


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