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Eprocurement

In: Business and Management

Submitted By lzbthgarber
Words 6948
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E-procurement: Government, Private and Commercial

Abstract
With the rapid and emerging growth of technology, coupled with globalization and competitive market place, most businesses are re-modifying the way they transact business. Few decades ago a lot of companies went through their daily business manually. The use of manual procurement invoice, ordering, payments, catalogues, and requisitions was the order of the day. Times have changed and improved technology has changed the way businesses function. Many businesses have turned to electronic procurement (e-procurement) in the purchasing and supply of goods and services. In as much as there are many advantages ranging from cost saving, time saving and effectiveness, e-procurement also has it disadvantages; high cost of implementation and lack of readiness. More importantly a lot of businesses are not only concerned about cost saving advantage of e-procurement but also achieving high level of customer satisfaction through CRM. Electronic data interchange (EDI) enables the transfer and sharing of data and other forms of information electronically. This research paper will analyze the need for e-procurement, the IT tools and system involved, the advantages and disadvantages of e-procurement, factors inhibiting and supporting e-procurement. Questions such as: will e-procurement add value to my business? does it worth investing in? What IT tools, system and software do I need to implement e-procurement? Do I need to involve every member of my organization? will be addressed in this paper. Keywords: e-procurement, e-government, e-business, e-commerce, supply chain management, Customer relationship management, IT tools,

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