Based on current events and trends in the sourcing and procurement environment, address the future of procurement in the global economy. Address at least three (3) of the areas listed below in a 1,000-word forward looking paper. There are no bounds placed on your thoughts. You do not need to address all the areas below- only three (3) areas need to be addressed:
- How technology is reshaping the art and science of procurement (examples- block chain technology, digital transformation)
- Future trends in commercial or public procurement (public = local or state government or educational institutions)
- Future trends in Department of Defense or Federal procurement
- Challenges for procurement professionals faced with changes in the global economy (“island hopping”, near shoring, onshoring, etc.)
- How current technology/ERP tools are evolving to support e-procurement and e-commerce (examples- ERP computing the cloud)
- How the current Administration might reshape outsourcing overseas with its proposals such as changing trade agreements, and tariffs
- Impact of withdrawing from NAFTA on Canada, Mexico, and the United States
Format your paper according to APA standards for a 400-level course.
Include at least three (3) references. Our primary text can serve as one reference. Use citations in your narrative to provide academic credibility.