Version 1
: Received: 4 July 2024 / Approved: 5 July 2024 / Online: 5 July 2024 (09:57:59 CEST)
How to cite:
Cooper, M. Agile Procurement in a Changing Marketplace: Examining Adaptability and Responsiveness in Supply Chain Management. Preprints2024, 2024070514. https://doi.org/10.20944/preprints202407.0514.v1
Cooper, M. Agile Procurement in a Changing Marketplace: Examining Adaptability and Responsiveness in Supply Chain Management. Preprints 2024, 2024070514. https://doi.org/10.20944/preprints202407.0514.v1
Cooper, M. Agile Procurement in a Changing Marketplace: Examining Adaptability and Responsiveness in Supply Chain Management. Preprints2024, 2024070514. https://doi.org/10.20944/preprints202407.0514.v1
APA Style
Cooper, M. (2024). Agile Procurement in a Changing Marketplace: Examining Adaptability and Responsiveness in Supply Chain Management. Preprints. https://doi.org/10.20944/preprints202407.0514.v1
Chicago/Turabian Style
Cooper, M. 2024 "Agile Procurement in a Changing Marketplace: Examining Adaptability and Responsiveness in Supply Chain Management" Preprints. https://doi.org/10.20944/preprints202407.0514.v1
Abstract
Agile procurement has emerged as a transformative strategy for organizations striving to maintain competitiveness in a rapidly evolving marketplace. This qualitative research investigates the implementation, benefits, challenges, and outcomes of agile procurement practices in supply chain management. Through semi-structured interviews and case studies across diverse industries, this study explores how agile procurement enhances organizational adaptability and responsiveness. Key findings reveal that agile procurement enables organizations to swiftly adjust strategies in response to market fluctuations and customer demands, fostering increased customer satisfaction and loyalty. The integration of advanced technologies, including AI and blockchain, facilitates real-time data analysis, optimizing procurement processes and enhancing supply chain efficiency. Organizational culture emerges as a critical factor in successful agile procurement, with leadership support and a collaborative environment driving cultural change towards agility and innovation. Despite its benefits, challenges such as resistance to change and the need for significant technology investments are identified, requiring careful change management and strategic alignment. Case studies illustrate the versatility of agile procurement across sectors, showcasing its role in enhancing operational efficiencies, innovation capabilities, and overall supply chain performance. In conclusion, agile procurement offers organizations a strategic framework to navigate complexities and uncertainties effectively, capitalizing on market opportunities while mitigating risks. Embracing agile principles fosters a resilient organizational culture capable of adapting to dynamic market conditions. Future research should focus on further refining agile procurement strategies to address emerging challenges and sustain competitive advantage in the global marketplace.
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.
