Article
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Adapting Procurement Practices to Disruptive Events: Lessons from Recent Supply Chain Disruptions
Version 1
: Received: 4 July 2024 / Approved: 4 July 2024 / Online: 5 July 2024 (09:41:48 CEST)
How to cite: Cooper, M. Adapting Procurement Practices to Disruptive Events: Lessons from Recent Supply Chain Disruptions. Preprints 2024, 2024070437. https://doi.org/10.20944/preprints202407.0437.v1 Cooper, M. Adapting Procurement Practices to Disruptive Events: Lessons from Recent Supply Chain Disruptions. Preprints 2024, 2024070437. https://doi.org/10.20944/preprints202407.0437.v1
Abstract
This study investigates how organizations adapt their procurement practices in response to supply chain disruptions, aiming to enhance resilience and ensure operational continuity. Through qualitative research involving interviews with procurement professionals and industry experts, the study identifies key adaptive strategies employed by organizations, including supplier diversification, enhanced inventory management, digital transformation, supplier collaboration, and contingency planning. These strategies are explored in depth, highlighting their implementation challenges and the outcomes achieved. Despite facing obstacles such as financial constraints, technological barriers, and supplier resistance, organizations have demonstrated a proactive approach in leveraging these strategies to mitigate risks and improve supply chain resilience. The findings reveal that adaptive procurement strategies have led to significant outcomes, including strengthened supplier relationships, increased operational efficiency, better risk management, and competitive advantage. These outcomes underscore the strategic importance of agility, technological integration, collaborative partnerships, and effective leadership in responding to disruptions and maintaining competitiveness. The study also discusses implications for practice and policy, emphasizing the need for continued investment in technology, collaboration, and resilience-building initiatives across supply chains. Overall, this research contributes to the understanding of how organizations can adapt and innovate in the face of dynamic supply chain challenges, providing insights that can guide future research and inform strategic decision-making in procurement and supply chain management.
Keywords
procurement practices; supply chain disruptions; adaptive strategies; resilience; operational continuity; qualitative research
Subject
Business, Economics and Management, Business and Management
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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