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The Role of Emerging Technologies in Developing and Sustaining Diverse Suppliers in Competitive Markets
Abstract
As organizations seek to maintain competitiveness in an ever-challenging global economic environment, considerable attention has been focused on rationalizing and realigning supply bases to match market realities. Firms are reducing and restructuring the number and types of suppliers from which they buy goods and services worldwide. This restructuring has a direct impact on minority suppliers. This chapter focuses on how minority suppliers can use technology, with particular focus on electronic procurement systems and related methods, to strengthen performance and attractiveness to potential business-to-business customers. Through the use of e-procurement, electronic auctions, and multiple customer relationship management processes, minority firms can strengthen relationships that lead to long-term success.
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