Question-4: What are the different ways of
e-procurement?
According to Philip
Kotler “Purchasing through electronic connections between buyer and
sellers-usually online is called e-procurement.” There are different ways of
e-procurement such as:
§ Reverse auctions: In
which several sellers offer their items for biding, and compete for the price
which a buyer will accept. The buyer usually has the option to accept any bid
or reject all.
§ Online trading exchange: Company works collectively to facilitate the
trading process. For example, specialized organizations connect buyers and
sellers in the industry to improve trading efficiency and reduce costs. EXOSTAR
(an online trading exchange) now connects 40,000 trading partners around the
world.
§ Company buying sites:
Company’s own trading site on which it posts buying needs and invites bids
negotiates terms, and place orders.
§
External links with key
suppliers:
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