Track: Undergraduate Student Paper Competition

Abstract

With the evolution of industry 4.0, the procurement 4.0 has recently emerged with higher advantages. With these higher advantages, procurement 4.0 plays a major role in the domain of organization value chain. In an organization, procurement division can create new business models for itself and more from being a cost center to a profit center whereas changing what they buy as well as the ways in which they buy. Therefore the purchasing of products and services will increase dramatically in a proper way. The purpose of this study is to explore how the pillars of procurement 4.0; specifically, competitiveness, collaboration, digitalization and agility can be integrated to build strategic relationship with suppliers in the procurement process to enhance the overall performance and organizational efficiency that simultaneously lead improving customer experience and supplier performance of apparel industry. This study is based on a comprehensive, systematic review of literature published in relation to the areas of strategic supplier relationship and procurement 4.0 applicable to the apparel industry. The findings of this research is based on reviews of 25 articles which describe different models, frames, processes and appropriate theoretical terms. Through the effective categorization and integrative analysis of above findings this paper expects to introduce an innovative conceptual model of how to develop strategic supplier relationships to maximize the effectiveness of the apparel industry.