e-Procurement or Manual procurement?
e-Procurement or electronic procurement refers to the process of purchase and sale of goods or services through electronic methods, primarily the Internet. Supply Chain Management is vital for any business. Organizations invest a lot of resources in the process of procuring goods, services and raw materials. So, an efficient and stream lined procurement process is a huge advantage for businesses. e-Procurement consists of Indent Management, RFX creation, e-Tendering, e-Auctioning, Vendor Management and Contract Management among other processes. An e-Procurement solution can automate the whole process, thus saving the organizations from the hassle and irregularities involved in manual procurement. The e-Procurement suites may differ on the basis of what they offer to the user. The main components of a typical e-Procurement suite are the follows- 1. Indent Management: This process is basically the first step involved in e-tendering . Indent creation or the creatio...