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Published in:
2016 | OriginalPaper | Chapter
Trekking Through Transactions
Authors : Bonnie Keith, Kate Vitasek, Karl Manrodt, Jeanne Kling
Published in: Strategic Sourcing in the New Economy
Publisher: Palgrave Macmillan US
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For centuries, businesses have chosen transaction-based Sourcing Business Models as the primary way to buy goods and services. The heart of the transaction-based model is a simple exchange of goods/services for a set price driven by market competition. Successfully completed transactions trigger payment. Transaction-based approaches are usually highly efficient. As strategic management guru Gary Hamel observes, an efficient transaction-based system allows companies to stamp out the zillions of widgets and process the billions of transactions they need to keep businesses running.1