Authors: Paul Hong; He-Boong Kwon
Addresses: College of Business, University of Toledo, 2801 Bancroft, Toledo, OH 43606, USA. ' School of Business, Park University, 8700 NW River Park Drive, Parkville, MO 64152, USA
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.
International Journal of Procurement Management, 2012 Vol.5 No.4, pp.452 - 469
Available online: 30 May 2012 *Full-text access for editors Access for subscribers Purchase this article Comment on this article