Monday, September 22, 2014
Importance of Electronic Procurement for Businesses
Today's highly competitive business world requires the corporations to continuously look for IT solutions. It’s important for businesses to improve their efficiency of business processes & cut cost of operations to enhance their margin ratios. Businesses undergo invariable pressure to advance their bottom lines irrespective of increase in their top line.
In such economical frenzy scenario,
businesses switch to e-procurement solutions which give myriad benefits along
with improvement in time-to-market mechanisms & reduction in operating costs
to enhance profit margins. E-procurement is an essential part of Purchasing
& Materials Management for businesses.
In this intuitive piece of article,
you’ll learn how e-procurement helps businesses avoid costly mistakes & maintain
their competitive edge thus avoiding risk of extinction.
First,
a quick brief about electronic procurement or e-procurement-
E-procurement in simple
terms assists businesses to enhance efficiency in 3 following aspects-
1)
Sourcing
2)
Negotiations with suppliers
3)
R&D co-ordination
The above 3 are crucial factors
for any business. E-procurement helps firms to achieve the respective goals efficiently
using internet & electronic market. The respective transactions can occur between
business-to-business (B2B), business-to-customer (B2C) and business-to-government
scenarios.
E-procurement helps to co-ordinate
procurement activities online. Presutti in 2003 defined e-procurement as all the
technologies which enable buying online.
Knudsen in 2003 included further
elements into e-procurement which are-
- E-sourcing
- E-tendering
- E-informing
- E-reverse
- E-MRO
- E-Auctions
- Web-based enterprise resource planning (ERP)
Thus e-procurement has now
become an essential part of the Supply Chain Management contributing to invariable
efficiencies through its e-procurement software, B2B & B2C market exchanges
& purchasing consortia.
The elements of
e-procurement consist of-
RFx refers to the above 3
elements put together & eRFx is the software used to manage RFx projects.
Click to read 3 crucial benefits of e-procurement enabling businesses
to enhance their bottom lines.
Note- E-procurement
is one essential part of Purchasing & Materials Management. Indian Academy
of Management is conducting a practical and insightful business seminar on Purchasing & Materials Management.
The goal of this seminar is to make executives
and corporate personnel learn how to make purchasing
a constant profit center!
In includes detailed explanation
of the following and how it can be used to enhance business profits-
- E-Procurement
- Legal Aspects of Purchasing
- Overseas Buying
- Vendor Management
- Negotiations in Purchasing
- Financial Aspects of Materials Management
- Techniques for Control of Inventory
- Modern Storage and Warehousing Practices
- Logistics & Supply Chain Management Concepts
Subscribe to:
Post Comments
(
Atom
)
One simple approach to consider a generator is to think it simply like a pump through a pipe.Portable Generator
ReplyDeleteAn impressive share, I just given this onto a colleague who was doing a little bit evaluation on this. And he in reality ordered me breakfast due to the fact I discovered it for him.. smile. Consequently allow me alter that: Thanks for the deal with! Having said that yeah thanks for spending the time to chat about this, I really feel strongly about it and adore reading additional on this topic. If possible, as you turn into expertise, would you mind updating your weblog with additional details? It?s quite useful for me. Giant thumb up for this internet page publish! plataforma de licitacion electronica
ReplyDeleteNice post, Very Useful for us...
ReplyDeleteCRM software development company in Chennai
Hearty thanks for this wonderfull information !!!
ReplyDeleteXovoltib 20mg Dose @ Myapplepharmaceuticals
Really amazing !!!
ReplyDeleteAlecensa 150mg @ Myapplepharmaceuticals
Your informations are really helpfull to us !!!
ReplyDeleteScapho 150mg Dose
This is really a very good blog post and thanks for sharing
ReplyDeleteIkgdar 100mg,
Ikgdar 500mg,maball 100mg,maball 500mg,mabtas 100mg,mabtas 500mg
Nice Blog..... Keep Update.......
ReplyDeleteCustom application development in chennai
UIpath development in chennai
rpa development in chennai
Robotic Process Automation in chennai
erp in chennai
best software company in chennai
Given article is very helpful and very useful for my admin, and pardon me permission to share articles here hopefully helped:
ReplyDeleteErp In Chennai
IT Infrastructure Services
ERP software company in India
Mobile Application Development Company in India
ERP in India
Web development company in chennai
ReplyDeleteReally very nice blog information for this one and more technical skills are improve,i like that kind of post.
Catering Services in Chennai
Catering in Chennai
Caters in Chennai
Best Catering Services in Chennai
Mua vé máy bay tại đại lý Aivivu, tham khảo
ReplyDeletevé máy bay đi Mỹ Vietnam Airline
vé máy bay từ houston về việt nam
chuyến bay từ đức về hà nội hôm nay
vé máy bay từ việt nam sang nga bao nhiêu
Bursa
ReplyDeleteKırşehir
Muş
Mersin
Çanakkale
HTEUV2