preprints.org > business, economics and management > business and management > doi: 10.20944/preprints202407.0590.v1 (registering DOI)

Preprint Article Version 1 This version is not peer-reviewed

Version 1 : Received: 7 July 2024 / Approved: 8 July 2024 / Online: 8 July 2024 (08:36:21 CEST)

Strategic procurement practices within global supply chains are crucial for organizations aiming to navigate complex challenges and achieve sustainable competitive advantage. This qualitative research explores how procurement has evolved from a cost-centric function to a strategic enabler of broader organizational objectives, including risk management, sustainability, and innovation. Through semi-structured interviews with procurement managers and supply chain executives across diverse industries, the study investigates key themes such as supplier relationship management, technological integration, and the impact of sustainability considerations on procurement decision-making. Findings indicate that effective procurement strategies, such as strategic sourcing and collaborative supplier partnerships, are pivotal in enhancing supply chain resilience and operational efficiency. Technological advancements, particularly artificial intelligence and big data analytics, are transforming procurement operations by optimizing processes and enhancing decision-making capabilities. However, the study identifies significant challenges, including regulatory complexities, geopolitical uncertainties, and internal resistance to change, which require adaptive approaches to procurement management. Sustainability emerges as a critical driver, with organizations adopting ethical sourcing practices, reducing carbon footprints, and promoting supplier diversity to meet environmental and social responsibility goals. Leadership qualities such as visionary thinking and emotional intelligence are essential for navigating these challenges and driving innovation within procurement practices. Overall, this research contributes to a deeper understanding of strategic procurement's role in organizational strategy and offers practical insights for enhancing procurement effectiveness and resilience in a competitive global market landscape.

strategic procurement; global supply chains; supplier relationship management; technological integration; sustainability; organizational strategy; competitive advantage

Business, Economics and Management, Business and Management

* All users must log in before leaving a comment