E-procurement

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E-procurement

E-procurement (electronic procurement) is the B2B or B2C or B2G procurement of goods and services through electronic methods, such as Internet as well as other information and networking systems like EDI or ERP. Typically, E-procurement web sites allow qualified and registered users to look for buyers or sellers of goods and services. Depending on the approach, buyers or sellers may specify prices or invite bids.

Transactions can be initiated and completed. Ongoing purchases may qualify customers for volume discounts or special offers. E-procurement software may make it possible to automate some buying and selling. Companies participating expect to be able to control parts inventories more effectively, reduce purchasing agent overhead, and improve manufacturing cycles. E-procurement is expected to be integrated with the trend toward computerized supply chain management.