AS COMMERCIAL ORGANISATIONS AND COLLABORATION EXPANDED THROUGHOUT HISTORY , PROCUREMENT WENT FROM A TRIBAL , TO A NATIONAL , TO A GLOBAL AFFAIR .

The age of exploration

The Age of Exploration was a period of global exploration and trade , during which European explorers established trade routes to Asia , Africa , and the Americas . This era marked the beginning of global trade and commerce , and it paved the way for the development of modern procurement practices .

As trade routes expanded , merchants began to develop sophisticated procurement strategies to source goods from different regions , creating the foundation for today ' s global supply chains .

18 April 2023

The establishment of GATT

The General Agreement on Tariffs and Trade ( GATT ) was established in 1947 as a framework for regulating international trade . GATT instituted a set of rules and principles for trade among member countries , including rules on tariffs , subsidies and non-tariff barriers . Over time , GATT evolved into the World Trade Organisation ( WTO ), which continues to regulate global trade today . The establishment of GATT / WTO created a more predictable and stable environment for international trade , providing a foundation for global procurement .

The advent of systematic E-procurement

Electronic procurement , or e-procurement , refers to the use of digital technologies to manage procurement processes . The advent of the internet in the 1990s made it possible to develop e-procurement systems , enabling companies to streamline their procurement processes and automate many routine tasks . E-procurement has since become an essential part of global procurement , allowing companies to manage their procurement operations more efficiently and effectively .