Enhance Organizational Efficiency and Reduce Administrative Costs with
eProcurement
Procurement has attained greater significance in the wake of globalization.
The hypercompetitive
business environment and the volatile market have all made it necessary for...
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Enhance Organizational Efficiency and Reduce Administrative Costs with
eProcurement
Procurement has attained greater significance in the wake of globalization.
The hypercompetitive
business environment and the volatile market have all made it necessary for enterprises to look at
procurement or purchasing process at a different level.
Gone are the days when procurement process
was considered as just one of the components of multinational organizations.
Today it plays an important
role in the success of business enterprises.
Procurement is the acquisition of right goods or services at the right price, on right time and from the right
source.
Procurement process attains significance especially during those times when commodities are
scarce and prices very high.
Under these conditions, the performance of any enterprise depends largely
on its purchasing decisions.
When making cost benefit analysis, if the outcome of their purchasing
decisions is increased benefits when compared to co
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