THE IMPACT OF DIGITIZATION ON TACTICAL PROCUREMENT AND ITS RISKS MANAGEMENT
Mian Wasim Layaq - Department of Transport and Logistics, University of Duisburg Essen, Germany
Alexander Goudz - Department of Transport and Logistics, University of Duisburg Essen, Germany
Bernd Noche - Department of Transport and Logistics, University of Duisburg Essen, Germany
Muhammad Atif - Department of Transport and Logistics, University of Duisburg Essen, Germany
ABSTRACT
The digital revolution currently is affecting every sector of business, today’s businesses cannot survive independently, rather they must work in collaboration to survive in the market and to achieve their results. This digitization is prominently hitting the supply chain industry and as procurement is a vital part of supply chain, automatically this impact will be shifted to the procurement industry as well. The purpose of this research paper is, to show how procurement is a vital part of the supply chain industry and which are the risks associated with it, further the research takes deep dives in the Tactical procurement processes and analyzes which are the prominent risks associated with tactical procurement, how huge the impact of this risk can be to any organization? In addition, what could be possible risk mitigation strategies to deal with these risks? Emerging literature, case studies, blogs, expert opinions, market knowledge, practical business experiences and citations are used to fulfill this task. This research can contribute to explore further research on automation of strategic procurement processes.
