Emerging issues of procurement management: a review and prospect

Paul Hong and He-Boong Kwon

International Journal of Procurement Management, 2012, vol. 5, issue 4, 452-469

Abstract: Increasingly, procurement management is becoming a strategic priority of firms for their sustainable competitive advantage in turbulent times. In today's dynamic market environment, procurement is positioned as a critical integrative business process and its focus has been extended from short term cost minimisation to long term value creation and delivery. In this paper, we examine a major procurement literature and present a framework that suggests evolving patterns of strategic procurement practices of firms. This review of articles published in major journals about procurement management shows that procurement literature has evolved from specialised functional orientation to more integrative and strategic approaches. This article provides summaries of the procurement literature in terms of its key dimensions and emerging patterns. Future research issues are discussed.

Keywords: emerging procurement issues; procurement professionals; strategic procurement; procurement practices; prospect; literature review; procurement management. (search for similar items in EconPapers)
Date: 2012
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