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E-Procurement definition


E-Procurement (© tashatuvango / Fotolia.com)

E-Procurement (© tashatuvango / Fotolia.com)

One of the marketing terms that you will need to know if you want to be successful in the field is e-procurement. E-procurement is one of the most important terms when it comes to large-scale business services and purchasing. In this article, we'll be exploring the entire chain of e-procurement from start to finish and define the term as it applies to the marketing and advertising industry.

What Exactly Is E-Procurement?

There are lots of new terms in the world of marketing since the internet has become the massive place to buy and sell items that it has. E-procurement is a term that simply stands for electronic procurement or supplier exchange is another word that is sometimes used. It simply means the buying and selling of supplies, services or work through the internet specifically as it applies to business-to-business and business-to-government, although it does apply to business-to-consumer sales as well.

The E-Procurement Value Chain

The e-procurement value chain consists of a few different things that are vital to the chain, as well as some optional elements like indent management. Here are some of the vital elements of the chain.

  • Auctioning
  • Vendor management
  • Catalog management
  • Integration of purchase orders
  • Informing
  • Shipping notices
  • Order status
  • Electronic payment

The E-Procurement Process

E-procurement allows for the automation of many of the tasks that used to require manual work in business. The entire process cannot usually be automated, but most parts of it can. Things like elements like marketing, payment processing and lead procurement can all be done online these days. However, it does take some work and you have to know what you are doing.

What Are The Benefits Of E-Procurement?

In this section, we are going to go over some of the benefits of e procurement. There are quite a few of them, and they are the reason that so many people are bringing their business online even if they do not primarily sell online. Many business tasks could be automated, even if the business does nothing else online. Here are the benefits.

  • An almost complete elimination of all the paperwork that used to be involved in running a business, including taxes Financial spreadsheets and ledgers and much more
  • A minimization of the errors that typically occur when you try to do business without the aid of a computer
  • Lowered overhead in the form of purchasing, as well as in many other areas like marketing.
  • Easy communication between the company that is selling the product in the supplier that is actually supplying it.
  • Minimization of time between when the customer recognizes they have a need and when they actually buy the product from your website.
  • Less time for employees to do paperwork such as filling up purchase orders and tracking inventory.

Conclusion

The bottom line is that there are just some great reasons why e-procurement has been able to change the way the people do business, and almost exclusively for the better. E-procurement is one of the most exciting ways of doing business in this modern computer age.


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Press releases

Dubai Healthcare City (DHCC) e-procurement success
Dubai Healthcare City (DHCC), a member of Tatweer has placed itself strategically by adapting integral e-solutions at the very source of supply chain in the form of e-procurement. This has seen them partner with the best names in healthcare globally. Semih Sen, Director Business Development, DHCC, says ‘the unique impact of
The State of Alaska Awards E-Procurement Contract to Technical Services Associates, Inc.
Mechanicsburg, PA - The State of Alaska, Department of Corrections has awarded a multi-year contract to Technical Services Associates, Inc. of Mechanicsburg, PA to implement its Puridiom procurement solution for the State of Alaska, Department of Corrections. The solution will connect 30 offices and 250 users in Juneau and Anchorage,
Latest Research on E-Procurement Market 2019 | Oracle Corporation, Proactis, SAP SE, Infor, Sciquest Inc., Coupa Software Inc., Epicor Software Corporation, and Zycus
Procurement is part of the traditional business process, and E-procurement (electronic procurement) refers to buying and selling goods or services using an online platform. A revolution in procurement processes is quietly underway. For more than five years, electronic procurement, or e-procurement, has been a requirement for companies wanting to do
E-Procurement in Supply Chain Management Market Booming Across the World by Aspen Technology, Inc., Comarch, IBM Corporation,, Infor, Inc., JDA Software Group, Inc., Kinaxis, Oracle Corporation
Electronic procurement is one of the most discussed topics in supply management. It will dramatically change the way purchasing is done in the near future. E-Procurement Value includes reducing procurement costs, shortening traffic hours, diminishing unconfirmed orders, obtaining more procurement information, improving the control system of supply chain, and shortening
Premier Spend Analyses Services at Hedgehog
Carmel, USA, 26th March 2011- In times such as these, when multi departmental organization are searching for ways to cut costs and increase productivity, profits and sales, Hedgehog come to the fore as a viable solution to solve all their supply chain challenges. We are a full service global sourcing