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E-procurement (electronic procurement, sometimes also known as supplier exchange) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems, such as electronic data interchange and enterprise resource planning.
The e-procurement value chain consists of indent management, e-Tendering, e-Auctioning, vendor management, catalogue management, Purchase Order Integration, Order Status, Ship Notice, e-invoicing, e-payment, and contract management. Indent management is the workflow involved in the preparation of tenders. This part of the value chain is optional, with individual procuring departments defining their indenting process. In works procurement, administrative approval and technical sanction are obtained in electronic format. In goods procurement, indent generation activity is done online.
e-Auction
The electronic auction (eAuction) is an e-business between auctioneers and bidders, which takes place on an electronic marketplace. It is an electronic commerce which occurs business to business (B2B), business to consumer (B2C), or consumer-to-consumer (C2C).
The electronic auction (eAuction) is an e-business between auctioneers and bidders, which takes place on an electronic marketplace. It is an electronic commerce which occurs business to business (B2B), business to consumer (B2C), or consumer-to-consumer (C2C).
The two major types of the electronic auction are forward auction in which several buyers bid for one seller's goods and reverse auction in which several sellers bid for one buyer's order.
Forward auctions take the form of a single seller offering an item for sale, with buyers competing to secure the item by bidding the price upward.
Reverse auctions are the other major form of auctions. In a reverse auction, a single buyer makes potential sellers aware of their intent to buy a specified good or service.
e-Tendering
An e-Tendering System (or Electronic Tendering System) facilitates the complete tendering process from the advertising of the requirement through to the placing of the contract. This includes the exchange of all relevant documents in electronic format.