Module 3: How Procurement Process is Integrated with other Business Processes within an Organization

              Integration of Procurement Process with other Business Processes Student Name Institution               Integration of Procurement Process with other Business Processes Companies today are looking beyond the intra-enterprise focus and moving towards an inter-enterprise perspective to manage internal processes better. Driven by globalization and competition, managers have realized the need to gain a competitive advantage by improving information flow. Collaborating in procurement activities, for instance, can yield significant benefits. Companies are looking to minimize the indirect procurement costs such as storage, supplier handling, and capital amongst many others. Collaboration has been identified as the best alternative, entailing mutual adjustment of systems and working methods in the separate companies (Meehan & Bryde, 2011). With the continuous evaluation of business partners, many firms have resolved to changing from paper-based procedures to integrated electronic systems that automate human interactions to increase efficiency (Rajkumar, 2001). The e-procurement systems, however, require complex mechanisms that allow integration to continue beyond company borders. In order to implement the strategy successfully, both trading partners ought to participate actively, adapt to the work and timely bidirectional sharing of information (Smart, 2010). The effort to integrate resources across companies’ borders and align objectives to deliver value is today known as Supple Chain Management. The main objectives underpinned by the initiatives are to lower the associated costs and improve the customer experience. Procuremen...