Scientific Essay from the year 2014 in the subject Business economics - Business Management, Corporate Governance, language: English, abstract: Value chain management (VCM) is more than a theory. It is a strategic business approach that is helping a growing number of businesses increase their long-term competitiveness. It would be extremely difficult to achieve such competitiveness by operating as an individual business within fragmented value chain. The primary purpose of this research is to address procurement and value chain impact on organizational performance. The project provides an informed, objective perspective on VCM by demonstrating how value chains and procurement operate at the business level rather than the sector or sub-sector level. Major changes are currently taking place within procurement functions of manufacturing firms. Procurement is shifting its focus from daily purchasing activities to long term, value-adding procurement and supply chain activities. At the same time, it is responding to the challenges and opportunities of electronic procurement (e- procurement), which refers to the utilization of the internet to buy and sell products and services. The responsibilities of procurement have changed over the last few decades, procurement focused heavily on the transactional elements of the purchasing process. Procurement was accepted as a support function that provides for the sourcing needs of other departments within the organisation
About the Author: David Ackah a Ghanaian Professional Holds Ph.D. in Economic Development in Africa, MSc. Economics from the United State of America, Bachelor Degree in Accounting, Post Graduate Diploma in Logistics and Supply Chain Management, Post Graduate Diploma in Project Management, & Post Graduate Diploma in Customer Relationship Management. He also holds a Diploma in Marketing from Institute of Commercial Management (ICM UK), Standard Diploma in Sales Management from Managing & Marketing Sales Association (MAMSA UK) and a certificate in Marketing & Salesmanship from the Institute of Export and Shipping Management. David Ackah holds "Fellow Chartered Membership" (Highest Grade Membership) from the following Institutions, Institute of Project Management Professionals Ghana, Chartered Institute of Supply Chain Management, Ghana, Chartered Institute of Project Management, Nigeria, Institute of Certified Economists Ghana, & Chartered Institute of Customer Relationship Management, Nigeria. David Ackah is the President of Institute of Project Management Professionals and a Senior Lecturer and Internal Auditor of Golden Sunbeam University College of Science & Technology (both School of Business and Administration) with an oversight of administrative and accounting procedures as well as planning the long-term auditing strategy for the onward development of the University. He provides operational support, monitoring and periodic review of administrative auditing to ensure the achievement of the vision and goals of the University. David Ackah is an author of five Internationally Published Books in the areas of Business, and about forty-two Articles Published in the International domain. He has a total University teaching experience of 5 years, and a total professional experience of 8 years in Manufacturing, Pharma marketing, Sales/Distribution, administration, Economics & finance.