eProcurement

Many companies are finding eProcurement [to be] an effective way to maintain their supplier lists. EProcurement gives companies the ability to compare supplier prices, service levels, and product quality (Jaeger, 2011).

Information about eProcurement

From a conceptual perspective, eProcurement is very similar to the classical tendering process: it helps companies source input products and services at the lowest possible cost while ensuring that those inputs meet technical and other specifications (Ong, 2002). The process of eProcurement incorporates two processes: e-Requisition and e-Sourcing. The former refers to the purchase of goods and services by the end user, while the latter emphasises the negotiations between the company and its suppliers (BuyIT: Measuring the Benefits: What to Measure and How to Measure It).

Related concepts

Catalogue Management

Effective and strategic catalogue management helps to ensure the quality of product data and that the data are configurable to the buyer's required format (CIPS:...

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eAuctions (Reverse Auctions)

Reverse auctions create an environment where suppliers bid against each other for a contract. This environment encourages competition with the result that goods and services are offered...

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eCommerce

ECommerce offers a wide range of benefits to customers and to businesses, including cost and time savings (Laudon and Laudon, 2007).

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