B2B Procurement and Marketplace Transformation

Emerging web technologies and systems have started a revolutionary path that will have a profound impact on procurement processes and systems, especially in the area of indirect procurement and the management of operating resources. In fact, what started as more narrowly focused procurement systems only a couple of years ago, has transformed into a web of technologies, markets, and business strategies that have ramifications well beyond the purchasing function. The focus of this paper is on the marketplace structure, functionality and capabilities of systems, and key factors that buyers need to take into consideration when transforming their procurement processes. Contents management, markets, standards, and outsourcing are important problems that are discussed in this paper.