Strategic sourcing & eProcurement - It's not what you buy, but how you buy it

Chemical industries are now reexamining existing business processes and practices and looking for opportunities to improve in the area of procurement. The industry is undergoing increasing mergers and acquisitions to achieve economics faced with slow growth and pricing pressures. It is believed that implementing a comprehensive strategy sourcing and e-procurement strategy can deliver significant rewards. Chemical companies have begun to view purchasing automation and management and have also begun process of connecting these to supply chain management and customer relationship management systems.