Social Buying

A Revolution in Purchasing

Social networks, online communities and cloud technologies are not only increasingly characteristic of our society, they stand to make an incredible impact on the work methods and technologies of purchasing. In the Information Age, in the words of Prof. Dr. Robert Fieten (board member of the BME), the script for professional purchasing must be revised and rewritten. The future will be shaped and influenced through global competition for raw materials, energy, information, and well-trained employees. As a result, entirely new information technologies are being developed, and both the working practices for every purchasing organization, as well as the requirements of the purchaser, will be drastically changing in the years ahead. The authors aim not only to guide the reader through the imminent changes and challenges, but also to illuminate and explain, why Social BuyingTM is the inevitable answer to the changing landscape of purchasing, and which technological developments will accompany this shift. Practical reports from Dr. Bernd Huber (Head Sourcing Cen- ter of Excellence, Inc.) and Stefan Wagenhofer (Senior Vice President of Procurement, OMV AG) are included, as a helpful supplement to this guide.