Procurement

About: Procurement is a research topic. Over the lifetime, 25669 publications have been published within this topic receiving 334145 citations.

Forecasting and Inventory Management of Short Life-Cycle Products

Abstract: In this paper, we provide an integrated framework for forecasting and inventory management of short life-cycle products. The literature on forecasting and inventory management does not adequately address issues relating to short life-cycle products. We first propose a growth model that can be used to obtain accurate monthly forecasts for the entire life cycle of the product. The model avoids limiting data requirements of traditional methods. Instead, it extracts relevant information from past product histories and utilizes the information on total life-cycle sales and the peak sales timing. Using disguised demand data from a personal computer PC manufacturer, we validate the model. Next, we model the inventory management problem for the short life-cycle environment. The uncertainty in demand is modeled through the uncertainty in the realized values of the parameters of the forecasting model. The high cost of terminal inventory, shortages, and rapidly changing procurement costs are all included in the model. Extensions to the basic model are also developed. Using optimal control theory, we derive a solution that provides valuable information on procurement cutoff time and terminal service levels. A detailed example explains the characteristics of the policy and its relevance in decision making. Many of the issues covered in the models were brought to our attention while implementing a forecasting model at a PC manufacturer. The benchmark monthly forecasts and the associated inventory levels provide information that can be very helpful in planning and controlling marketing, sales, and production.

Benchmarking in public procurement

Abstract: Purpose – This paper investigates the technique of benchmarking to improve the quality of the public procurement process and discusses the importance of benchmarking to overcome perceived weaknesses with these processes. This is followed by a case study of Sri‐Lanka, exploring the difficulties faced by public sector employees in separating the daily business of government from the political influences of its elected leaders.Design/methodology/approach – Initially the literature review was used to examine the key principles of government procurement and how they could be benchmarked. This formed the theoretical base for the discussion. The case study of Sri‐Lanka has been used very effectively to discuss the experiences of developing countries.Findings – It is revealed that reform solutions within government procurement systems must include measures that address issues of accountability, transparency, value for money, a professional work force and ethics.Research limitations/implications – The major limita...

Adoption of electronic commerce tools in business procurement: Enhanced buying center structure and processes

Abstract: Modern procurement is being shifted from paper‐based, people‐intensive buying systems toward electronic‐based purchase procedures that rely on Internet communications and Web‐enhanced buying tools. Develops a typology of e‐commerce tools that have come to characterize cutting‐edge industrial procurement. E‐commerce aspects of purchasing are organized into communication and transaction tools that encompass both internal and external buying activities. Further, a model of the impact of e‐commerce on the structure and processes of an organization’s buying center is developed. The impact of the changing buying center on procurement outcomes in terms of efficiency and effectiveness is also analyzed. Finally, implications for business‐to‐business marketers and researchers are discussed.

System and method for management of health care services

Abstract: The present invention is a system and method for management of consumer services such as health care services which combines new financial structure for health insurance and health benefit plan, payment methods, health plan design, benefit development algorithms, unique procurement methods for health care benefits with and without application to an individual consumer's personal state of health, and is integrated with financial services and asset management products, and benefits for an individual consumer's future medical and/or retirement savings, for healthcare needs. The method and system employs a combination of the defined benefit and defined contribution approaches which combination is referred to herein as “defined-care.” Defined-care model or the healthcare asset management model has two primary components, one which is referred to herein as a “health management and retirement account”, and the other of which is an infrastructure “connected portal” that interfaces through a technology platform with the health management and retirement accounts and the account holders. The foundation of this infrastructure according to the present invention is a technology platform across which a variety of processes are implemented. In the technology platform for the infrastructure of the present invention, the conventional processes and the new processes are integrated, thereby allowing a change to one process to be adopted by or otherwise accommodated by the other processes.

Automated procurement system with multi-system data access

Abstract: An automated procurement system, in which a buyer workstation is in communication with a mainframe database that stores global data relevant to procurement documents and reports The workstation is programmed with an interactive buyer interface that displays procurement documents, provides support data to aid in decision-making, and provides various document attachments Data is uploaded and downloaded to and from the mainframe and the workstation in a manner that is transparent to the buyer