Future Trends in Purchasing Paper Essay Example | Topics and Well Written Essays - 750 words

Future Trends in Purchasing Paper - Essay vitrineAs such, procurance has and continues to help in the evolution of supply ambit management in that procurement ensures the security of supply, market expansion, and reduces operational costs duration maximizing profits. In essence, this is the direction that supply chain management is headed towards as it evolves from just a profit making venture into a practice requiring devotion to legal, ethical and consumer demands. Callender (2013) gives the example of how the global market now prefers GM-free foods and seeks to shun child labor.E- subscriber line can be set forth as the practice of utilise technology in order to improve business, essentially by conducting business processes on the internet. The adoption of information technology in the conduct of business has its own advantages and shortcomings, just corresponding the traditional ways of conducting business. According to Popescul & Genete (2007) e-business is advantageous in that it reduces the amount of time required to transact business, while also reducing the costs involved. In addition, the incorporation of information technology in business legal proceeding means that a company is able to market itself on global arenas.On the negative array of doing e-business, companies are exposed to hackers who can swindle the company and its clientele their money. In relation, consumers whitethorn fall exploit to fraudsters who use information provided online, to steal credit card information. In other cases, There is also the encounter that the companys employees whitethorn be unable or unwilling to adapt to the applications used and may thus put the company at risk of losing its consumer base. It is also major concern for companies that the telecommunication bandwidth may be insufficient meaning that access to online platforms may be hampered thus negating the need for e-business.The practice of using information technology to