Purchase management

Technological advancement plays a pivotal role when it comes to revolutionizing an organization's operations for competently fulfilling different tasks. The application of technological tools in the improvement of service delivery and communication provides a substantive input in influencing consumer action. The paper will analyze organizational efforts in using technology to enhance their purchase schemes and boost their corporate image for better outcomes. The modeling of a good strategy in the modern business landscape requires the input of technology to yield quality and efficiency within the entity for exponential growth. Analysis of Purchase Management Purchase management is an important component for business progression since it plays a critical role in enabling seamless business operations towards fulfilling consumer needs across market segments. Technology has transformed the transport and communication infrastructure by the development of initiatives that allow business to engage and transact online without necessarily having to be physically present.

The benefits of technology are evident in organizations that have managed to maneuver the logistical complexities and drive their businesses towards sustainability. Reasons for Purchase Management Business management in the modern environment is marked by substantive challenges in how managers would develop a mechanism that would guarantee the implementation of a system capable of cost reduction and maximization of efficiency. The logistical complexities in the organizational operations make it imperative for companies to consider setting up a model that would improve their operations taking cognizance of the cost implications. The need for a competent structure that matches market expectations, product quality, and costs is a necessity for organizations that seek to deliver outstanding performance for the growth of their business portfolio.

The essence of performance management is primarily for planning purposes and negotiations for better deals to enhance organizational profitability by costs reduction on the purchase component. However, globalization has numerous positive impacts on existing companies. The advent of globalization made entities to rely on the threat posed by competitors on the global market to establish suitable strategies that enable it to outperform the rest. The strategies initiated as a result of globalization enhance the company's performance since a course of action to be followed is laid through the process. The expanded market share due to globalization also promotes the sales volume of organizations hence increased profit margins. The internet increases the chances of information delivery and popularization of the company among potential customers.

An organization might equally benefit through online searches that allow them to incur limited costs but gain access to some of the best suppliers around the world capable of meeting their consumer expectations. The purchase management system should create a good consumer relationship for purposes of creating an avenue for the entity to negotiate on the prices that would enhance their profit margins (Bishop, 2018). Contemporary business practices are largely driven by systems capable of costs reduction as a mechanism to enhance their competitiveness in the market where quality and pricing defines consumer choices. The purchase management system should ensure it applies the use of technology in enhancing their communication strategy with different stakeholders from the consumers to suppliers in ensuring timely delivery of quality output.

Walt Disney and Roy Disney established the company in 1923 as Disney Brothers Cartoon Studio (Walt Disney, n. d. Disney has its headquarters in Burbank California and it is the world largest entertainment company in terms of revenue. The acquisition of 21st Century Fox and launching of Disney+ are the two major events that will happen in 2019. The excellent performance posted by the company over time has been inspired by the capacity to utilize technology as an instrument to drive its growth trajectory across challenging market segments. The establishment of the magic band by Walt Disney defines their consumer-oriented focus in product development since with a rewarding consumer experience; the company yields substantive following across the world (Daley, 2018). The quality of decision making in the company is on another level since information captured on individual customer magic bands delivers substantive insight that aids their product development initiatives and planning.

The modern business challenge is how to create value and exceed consumer expectations which require organizations to invest in a system that allows them to understand their consumer market orientations. The technological age requires organizational success to be driven by data and the ability to cost-effectively research on consumer expectations. The use of the magic band by Walt Disney Company developed an indication of how an elaborate purchase management system will grow organizational success through attaining a win-win outcome (Gill, 2018).  New York Times. Bishop, S. (2018, August). A Practical Guide for Managers in Using the Customer Experience to Assist in Data-Driven Decision Making for Co-Creative Innovations. In 2018 Engaged Management Scholarship Conference: Philadelphia, PA. The Keys to Disney’s Magic and Success. Gill, S.