ESourcing automates contract lifecycle management (CIPS: Electronic Commerce and e-Business).

Information about eSourcing

Since 2000 the eSourcing space has undergone a major transformation and changed the balance of power across sectors (Strovink, 2008). Internet and IT technologies have allowed organisations to improve their operations areas and increase the efficiency of their procurement processes, including requirement definitions, supplier scouting and qualification, bid requests, final negotiations and selection of suppliers (Bartezzaghi and Ronchi, 2005).

Today, eSourcing and eProcurement form the core of the e-Purchasing cycle (BuyIT, 2004). eProcurement is the process through which employees of the purchasing organisations access supplier online catalogues, select items, conduct the purchasing process and communicate directly with suppliers (Leenders et al., 2002). ESourcing, on the other hand, is a broader concept as it incorporates the key elements of the buying process, such as knowledge, specification, requests for quotation/tender/e-auction, evaluation/negotiation and contract (CIPS: Electronic commerce and e-Business).

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