Affiliation:
1. MIT, Cambridge, USA
2. Concordia University, Montreal, Canada and CONAIC, Mexico
Abstract
As organizations embrace globalization, procurement must assess international supply markets and secure partnerships with key suppliers from all over the world. In fact, as local companies continue to expand their operations internationally, they remain bound to local financial institutions and their fees. This article proposes a model aimed at minimizing transaction fees by introducing an architecture and a prototype enabling “low-fee” transaction processing between customers and suppliers across the entire supply chain. The notion of web services is proposed as a communications method to open up options to new and international financial institutions. Vendors can now negotiate fees with financial institutions from all over the world. Both the literature review and the prototype clearly demonstrate that a more efficient and cost-effective solution and technology is on the horizon to support globalization and minimize supply chain transaction costs.
Reference42 articles.
1. XML Access Control: Mapping XACML Policies to Relational Database Tables.;A. A.Abd El-Aziz;The International Arab Journal of Information Technology,2014
2. An integrated neutrosophic ANP and VIKOR method for achieving sustainable supplier selection: A case study in importing field
3. Avédissian, A., Valverde, R. & Barrad, S. (2015), An Extension Proposition for the Agent-Based Language Modeling Ontology for the Representation of Supply Chain Integrated Business Processes, WSEAS Transactions on Business and Economics,12.
4. Mitigating Supply Chain Risks by Evaluating Supplier Bankruptcy Probabilities Through Web Services and the Black-Scholes-Merton Model.;S.Barrad;WSEAS Transactions on Information Science and Applications,2015
5. Bertsekas, D. P., Castanon, D., Tskanakis, H. (1992), “Reverse auction and the solution of inequality constrained assignment problems”, SIAM Journal on Optimization, 01/1992; 3(2)