Wrought immense financial loss to the company

Dear Sir, I am writing this memo to bring your attention to the need for a major shift in our procurement procedure which Fitter Snacker has been following for the past couple of decades. A careful study of the purchasing records of the last few months reveal that the traditional purchasing procedure has wrought immense financial loss to the company.This method which relies heavily on buying from a few â€Å"trusted† local and familiar sources of raw material like floor, chocolate, sugar and milk derivatives has resulted in buying materials at higher prices and sometimes suppliers not meeting the demand or deadline. What I am suggesting is us to shift our attention to online sources and rely more on e-commerce (electronic commerce) for our raw materials.As you might be aware, the worldwide web has created an electronic market place in the internet in last many years. In the net there are B2B (business to business) e-commerce sites where you can bid for raw materials at cheaper rates and get quality assured supplies at faster speeds. One another advantage with e-commerce is that you don’t have to rely on a few small time local suppliers all the time – you can even approach large and distant corporations who can manage long distance shipping of large quantities.My predecessor was using the age old means of communication like writing letters or calling over phones or even personally visiting the suppliers as part of purchasing protocol. As a person coming from a generation that came to age in 21st century I think all these are a total waste of money and time. A shift to e-commerce will remove all the inconveniences, moreover this shift would enable any authorised person in our company to go through the procurement records on real time and make assessments or decisions from anywhere using the internet. Thank you.