Article
Version 1
This version is not peer-reviewed
Adapting Supplier Relationship Management Strategies to Evolving E-Commerce Trends
Version 1
: Received: 4 July 2024 / Approved: 5 July 2024 / Online: 5 July 2024 (14:31:21 CEST)
How to cite: Grant, O. Adapting Supplier Relationship Management Strategies to Evolving E-Commerce Trends. Preprints 2024, 2024070546. https://doi.org/10.20944/preprints202407.0546.v1 Grant, O. Adapting Supplier Relationship Management Strategies to Evolving E-Commerce Trends. Preprints 2024, 2024070546. https://doi.org/10.20944/preprints202407.0546.v1
Abstract
This qualitative study explores how businesses are adapting their Supplier Relationship Management (SRM) strategies to address the challenges and capitalize on the opportunities presented by evolving e-commerce trends. Through in-depth interviews with key industry stakeholders, the research investigates the integration of advanced technologies such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT) into SRM practices. Findings reveal that these technologies enhance efficiency, transparency, and responsiveness within supply chains, enabling businesses to navigate complexities such as supply chain dynamics, fluctuating consumer demand, and regulatory compliance. The study identifies effective strategies employed by businesses, including enhancing communication channels with suppliers, diversifying supplier bases, and investing in technological advancements. These strategies enable businesses to mitigate risks, improve collaboration, and drive innovation, thereby maintaining competitive advantage in the digital marketplace. Collaborative practices such as joint product development, shared risk management, and co-investment in technology emerge as critical drivers of successful SRM. Ultimately, this research contributes to a deeper understanding of SRM in the context of e-commerce, offering insights into how businesses can optimize their supply chain operations amidst technological disruptions and market fluctuations. The findings underscore the importance of proactive adaptation and strategic alignment with suppliers to foster resilient and agile supply chains. As e-commerce continues to evolve, businesses must leverage these insights to refine their SRM strategies and sustain growth in an increasingly competitive environment.
Keywords
Supplier Relationship Management, e-commerce trends, advanced technologies, supply chain resilience, collaboration, innovation, competitive advantage
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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