Chundru Ranga Rao

Research Scholar, Department of Mechanical Engineering, Jawaharlal Nehru Technological University, Hyderabad (JNTUH), Hyderabad, Telangana - 500 085, India

A. Prabhu Kumar

Retired Professor, Jawaharlal Nehru Technological University, Hyderabad (JNTUH), Hyderabad, Telangana - 500 085, India

Abstract

Micro, small and medium enterprises contribute 29% of GDP In India. This sector gives highest employment opportunities after agriculture sector in India. In this paper explain about the procurement process in micro, small and medium enterprises by using design thinking approach business model canvas. Design thinking is a problem-solving technique used by many organizations for strategy formulation. In this study analysis has done by using business model canvas procurement process of micro, small and medium enterprises, business complexity and their procurement strategy in short term and long term.

Keywords- MSME, Design Thinking, Business Model Canvas, Procurement Strategy