Comparing Traditional And Sustainable Procurement Strategies: Analyzing The Connections Between These Strategies In Affecting Firm Profitability

Abstract

Purpose – From the last few years, various initiatives have been taken that have made sustainable procurement progressively a significant agenda for every organization for securing income and profits. Moreover, it is also important in maximizing the positive effect of an institution in the way it utilizes its resources. The purpose of this paper is to provide a review concentrated on sustainable procurement strategies and its impact on the profit performance of business in comparison to the traditional strategies in the literature, highlight research gaps and pave avenues for future research.

Design/methodology/approach – The paper analyzes the content of 111 research articles published on the topic of procurement from 2008 to 2022 within different journals. The Scopus and Web of Science databases were taken into consideration to shortlist research articles.

Originality/value – This study analyzes procurement strategies which shows the potential to enhance the business performance in terms of profitability in comparison to the traditional strategies and complements them. Different industry sectors might find this review valuable, as it depicts adequate information in the respective domain.