Electronic procurement, also known as e-procurement software or supplier exchange, is the practice of requesting, ordering, and purchasing goods and services online. Business-to-business exchanges are involved. E-procurement, as opposed to e-commerce, is a closed system that only registered users can access.
5 simple steps to e-procurement
online information exchange.
The e-informing phase also referred to as online information transfer corresponds to a traditional procurement cycle.
Online sourcing, online tendering, and other things
Online auctions are held.
purchasing goods online.
important for e-procurement
The three key elements for the success of the e-procurement initiative are system and technology, organization and management, and e-procurement practices and processes.