Procurement Strategy in the Globalization

Abstract

Presently, world trade mechanisms have changed. International trade is growing rapidly under the dominance of the age of globalization. Free trade policy Bilateral trade is borderless: competition both domestically and internationally. For such changes, the management is to adapt the necessary modern techniques and strategies to enhance the competitiveness of the organization to succeed. The concept of procurement strategy like supplier optimization, total quality management, vendor management inventory, lean procurement, green procurement, electronic procurement, global procurement are the key to the development of the organization towards excellence. This will improve the organization performance.