Technology in Procurement
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The document discusses technology in procurement. It describes various types of procurement technologies like e-commerce, marketplaces, ERP systems, and barcoding. It outlines benefits like reduced time and costs, improved information flows, and risk reduction. It recommends considering objectives, user adoption, and ROI before implementing new technologies. Finally, it provides examples of best practices like automated approvals, online catalogues, and transparency of purchasing information.
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The role of technology in procurement
The document summarizes a webinar on the role of technology in procurement that was scheduled for March 15, 2015. It introduces the presenter, Eric Evans, and his background in procurement. It then discusses how technology has changed procurement from a transactional to a more value-adding process focused on areas like sourcing, forecasting, and approvals. Examples of software tools that help with forecasting, catalogues, requests, and invoice processing are provided. The presentation envisions greater integration of procurement systems with ERP, suppliers, and across the extended enterprise. It predicts that within 5 years, procurement will increasingly rely on analytics, virtual supplier visits, automatic decision-making, and paperless processes integrated across the supply chain.
E-procurement System PPT
Honeywell and Vedanta both implement e-procurement systems but differ in their approaches. Honeywell uses the SAP ERP system which provides high security, reliability and organization but has a more complex and time-consuming process. In contrast, Vedanta uses a simpler file-sharing approach on a common network drive which has lower costs and complexity but also less security and organization. The appropriate system depends on factors like the business nature, resources, and ability to accept changes.
E procurement
This document discusses e-procurement and compares it to traditional procurement processes. E-procurement refers to purchasing goods or services electronically, primarily over the Internet. It can automate the entire procurement process from requesting quotes to contract management. This saves time and reduces irregularities compared to manual procurement. E-procurement portals allow buyers and suppliers to register and participate in online tendering processes. Key aspects of e-procurement include request for quotation, offer evaluation, reverse auctions, purchase orders, and payment status updates. Reverse auctions reverse the roles of buyers and sellers by allowing buyers to bid increasingly lower prices. The government of Andhra Pradesh was the first Indian state to adopt a single e-procurement website for all government departments.
e-Procurement in Indian Government
This document discusses e-procurement and provides details about its objectives, key stakeholders, technical architecture, new processes, governance issues, current status, issues and challenges, and best practices. The main points are:
1. E-procurement aims to automate the entire procurement process online to reduce costs and cycle times, increase transparency and supplier participation, and eliminate corruption.
2. Key stakeholders in e-procurement include government ministries, central departments, and suppliers. The technical architecture allows for online publishing of tenders, bid submission, payments, and contract awards.
3. Global case studies show e-procurement can deliver substantial benefits through increased efficiency, competition, and transparency, but requires strong leadership, appropriate policy
E procurement
E-procurement is the online system used to purchase goods and services electronically through all stages from requesting a purchase to payment. It integrates procurement activities between buyers and suppliers. There are different types of e-procurement like web-based ERP systems, e-MRO for maintenance goods, e-tendering to request quotes online, e-reverse auctions, e-informing for information, and e-market sites for buyers and sellers. E-procurement provides advantages like facilitating supply chain management, allowing more sourcing options, location independence, transparency, 24/7 access, reduced errors, and improved efficiency. However, it also has disadvantages such as transaction costs, time and resource usage, and requiring proper infrastructure and
Introduction to public procurement
- Public procurement accounts for 20-30% of global and India's GDP respectively and presents opportunities for cost savings.
- India's public procurement is estimated at Rs. 8,00,255 crore annually between central and state governments as well as public sector undertakings.
- However, loopholes like limited tenders, tailor-made specifications, and middlemen inflate costs. Transparency is lacking as many states lack procurement laws.
- Strictly following rules for open tenders, pre-qualification criteria, budget estimates, negotiation only with L1 bidder can ensure fairness and value for money.
Procurement management
The document outlines key concepts in procurement management including definitions of tender, bidding documents, bid, technical specifications, contracts, WHO prequalification, post-qualification, back orders, and total price. It distinguishes between purchasing and procurement. The document also discusses strategic objectives for good pharmaceutical procurement including procuring the most cost-effective drugs in the right quantities, selecting reliable suppliers of high-quality products, ensuring timely delivery, and achieving the lowest possible total cost. Key principles of good pharmaceutical procurement are also presented.
E-Procurement
This document discusses e-procurement and its benefits. It provides an overview of the procurement process and challenges organizations face in procurement. E-procurement can help drive efficiencies, reduce costs, and improve compliance. Benefits include reduced processing times, lower costs, improved data quality, and decreased maverick spending. The document also discusses e-procurement applications in the public sector and provides a case study of Denmark's National Procurement Limited which realized doubled productivity and 40-50% reduced administrative costs through an e-procurement solution. A case study of how IBM adopted holistic cost reduction approaches including strategic sourcing and e-procurement is also presented, achieving significant benefits and competitive advantage.
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The role of technology in procurement
The document summarizes a webinar on the role of technology in procurement that was scheduled for March 15, 2015. It introduces the presenter, Eric Evans, and his background in procurement. It then discusses how technology has changed procurement from a transactional to a more value-adding process focused on areas like sourcing, forecasting, and approvals. Examples of software tools that help with forecasting, catalogues, requests, and invoice processing are provided. The presentation envisions greater integration of procurement systems with ERP, suppliers, and across the extended enterprise. It predicts that within 5 years, procurement will increasingly rely on analytics, virtual supplier visits, automatic decision-making, and paperless processes integrated across the supply chain.
E-procurement System PPT
Honeywell and Vedanta both implement e-procurement systems but differ in their approaches. Honeywell uses the SAP ERP system which provides high security, reliability and organization but has a more complex and time-consuming process. In contrast, Vedanta uses a simpler file-sharing approach on a common network drive which has lower costs and complexity but also less security and organization. The appropriate system depends on factors like the business nature, resources, and ability to accept changes.
E procurement
This document discusses e-procurement and compares it to traditional procurement processes. E-procurement refers to purchasing goods or services electronically, primarily over the Internet. It can automate the entire procurement process from requesting quotes to contract management. This saves time and reduces irregularities compared to manual procurement. E-procurement portals allow buyers and suppliers to register and participate in online tendering processes. Key aspects of e-procurement include request for quotation, offer evaluation, reverse auctions, purchase orders, and payment status updates. Reverse auctions reverse the roles of buyers and sellers by allowing buyers to bid increasingly lower prices. The government of Andhra Pradesh was the first Indian state to adopt a single e-procurement website for all government departments.
e-Procurement in Indian Government
This document discusses e-procurement and provides details about its objectives, key stakeholders, technical architecture, new processes, governance issues, current status, issues and challenges, and best practices. The main points are:
1. E-procurement aims to automate the entire procurement process online to reduce costs and cycle times, increase transparency and supplier participation, and eliminate corruption.
2. Key stakeholders in e-procurement include government ministries, central departments, and suppliers. The technical architecture allows for online publishing of tenders, bid submission, payments, and contract awards.
3. Global case studies show e-procurement can deliver substantial benefits through increased efficiency, competition, and transparency, but requires strong leadership, appropriate policy
E procurement
E-procurement is the online system used to purchase goods and services electronically through all stages from requesting a purchase to payment. It integrates procurement activities between buyers and suppliers. There are different types of e-procurement like web-based ERP systems, e-MRO for maintenance goods, e-tendering to request quotes online, e-reverse auctions, e-informing for information, and e-market sites for buyers and sellers. E-procurement provides advantages like facilitating supply chain management, allowing more sourcing options, location independence, transparency, 24/7 access, reduced errors, and improved efficiency. However, it also has disadvantages such as transaction costs, time and resource usage, and requiring proper infrastructure and
Introduction to public procurement
- Public procurement accounts for 20-30% of global and India's GDP respectively and presents opportunities for cost savings.
- India's public procurement is estimated at Rs. 8,00,255 crore annually between central and state governments as well as public sector undertakings.
- However, loopholes like limited tenders, tailor-made specifications, and middlemen inflate costs. Transparency is lacking as many states lack procurement laws.
- Strictly following rules for open tenders, pre-qualification criteria, budget estimates, negotiation only with L1 bidder can ensure fairness and value for money.
Procurement management
The document outlines key concepts in procurement management including definitions of tender, bidding documents, bid, technical specifications, contracts, WHO prequalification, post-qualification, back orders, and total price. It distinguishes between purchasing and procurement. The document also discusses strategic objectives for good pharmaceutical procurement including procuring the most cost-effective drugs in the right quantities, selecting reliable suppliers of high-quality products, ensuring timely delivery, and achieving the lowest possible total cost. Key principles of good pharmaceutical procurement are also presented.
E-Procurement
This document discusses e-procurement and its benefits. It provides an overview of the procurement process and challenges organizations face in procurement. E-procurement can help drive efficiencies, reduce costs, and improve compliance. Benefits include reduced processing times, lower costs, improved data quality, and decreased maverick spending. The document also discusses e-procurement applications in the public sector and provides a case study of Denmark's National Procurement Limited which realized doubled productivity and 40-50% reduced administrative costs through an e-procurement solution. A case study of how IBM adopted holistic cost reduction approaches including strategic sourcing and e-procurement is also presented, achieving significant benefits and competitive advantage.
E Procurement
The document provides an overview of e-procurement tools and how they can streamline procurement processes. It defines e-procurement, identifies the typical procurement process steps, and explains how e-procurement software can coordinate purchasing, inventory management, and payment approval electronically. The document also discusses creating process flow diagrams to map current procurement processes and identify unnecessary steps that could be automated with e-procurement tools.
E Procurement
This document discusses e-procurement at IBM and Siemens. It begins by defining e-procurement as using the internet and new technologies to facilitate strategic procurement activities by connecting buyers and suppliers. It then discusses how e-procurement provides tools for improved analysis and linkages across the supply chain. The document also summarizes various e-procurement strategies used at IBM and Siemens like online purchasing systems, e-sourcing, e-tendering, and procurement marketplaces. It concludes by noting some potential cons of e-procurement.
E –procurement
E-procurement involves the online purchase and sale of supplies, work, and services between businesses and governments. Public sector organizations use e-procurement to increase efficiency, reduce costs, and improve transparency in procurement processes. E-procurement provides cost savings through automation and consolidation of the purchase process under a single online system, making it easier to track from beginning to end. However, implementing e-procurement requires a financial investment in software and getting employees to adopt the new electronic system can be difficult.
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The document discusses purchasing and vendor management. It covers topics such as the objectives and types of purchasing, purchasing procedures, functions of the purchasing department, centralized vs decentralized purchasing, vendor rating criteria and techniques, and benefits of vendor rating systems. The key points are that purchasing aims to acquire goods and services at minimum cost, ensure quality and timely delivery. Vendor performance is evaluated based on pricing, quality, delivery and service. Formal vendor rating systems help improve vendor performance and minimize subjectivity.
Procurement best practices
Checks budget availability
create a requisition
- Checks budget availability
- Requisition is routed to
- If budget available, requisition is
Assistant for budget check
approved
- If budget available, requisition
- If not, requisition is rejected
is approved
- Requisition is routed to Buyer
- If not, requisition is rejected
Buyer:
- Requisition is routed to Buyer
- Prepares solicitation documents
- Issues solicitation
- Evaluates bids
- Awards contract/PO
- Manages contract
34
Procurement Methods
Open Competition
Limited Competition
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The document summarizes the Essential Services Maintenance Act (ESMA) in India. The key points are:
1. ESMA is a law passed by the Indian Parliament that allows state governments to declare certain services like health, transport and utilities as essential and prohibit strikes in these sectors.
2. It empowers state governments to issue orders banning strikes in essential services. Any strike declared before or after such an order is deemed illegal.
3. The Act prescribes penalties like imprisonment or fines for illegal strikes or instigating/funding strikes in essential services. State governments can also arrest violators without a warrant.
4. The document provides examples of ESMA being invoked in India to end
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Procurement involves acquiring goods, services, or works from an external source in a way that meets needs at the best possible cost. The procurement life cycle includes identifying needs, finding suppliers, communicating with them, negotiating contracts, managing supplier relationships, and handling logistics. E-procurement automates this process electronically to reduce costs, increase transparency and productivity, eliminate paperwork, and speed up transactions. While e-procurement provides benefits, risks include over-investing in tools that don't deliver value or that users reject, as well as suppliers who don't cooperate.
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This document provides an overview of project procurement and contract management. It discusses key concepts like procurement management processes, contract administration, claims management, and payment processes. The procurement life cycle includes planning procurement, conducting procurements through bidding and selection, controlling procurements by managing vendor relationships and performance, and closing procurements upon completion. Effective contract and claims management aims to prevent and resolve disputes in a fair manner.
E scm
E-supply chain management (E-SCM) involves using the internet to coordinate activities between manufacturers, suppliers, distributors, retailers, and customers to deliver goods and services efficiently. It aims to reduce costs by minimizing inventory and expediting information sharing. Key aspects of E-SCM include product, information, and financial flows coordinated across the supply chain using internet technologies like extranets and e-commerce sites. The benefits are improved efficiency, reduced costs and inventory, increased competitiveness, customer satisfaction and profitability.
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The document provides an overview of e-procurement tools and how they can streamline procurement processes. It defines e-procurement, identifies the typical procurement process steps, and explains how e-procurement software can coordinate purchasing, inventory management, and payment approval electronically. The document also discusses creating process flow diagrams to map current procurement processes and identify unnecessary steps that could be automated with e-procurement tools.
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E-procurement involves the online purchase and sale of supplies, work, and services between businesses and governments. Public sector organizations use e-procurement to increase efficiency, reduce costs, and improve transparency in procurement processes. E-procurement provides cost savings through automation and consolidation of the purchase process under a single online system, making it easier to track from beginning to end. However, implementing e-procurement requires a financial investment in software and getting employees to adopt the new electronic system can be difficult.
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Procurement best practices
Checks budget availability
create a requisition
- Checks budget availability
- Requisition is routed to
- If budget available, requisition is
Assistant for budget check
approved
- If budget available, requisition
- If not, requisition is rejected
is approved
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1. ESMA is a law passed by the Indian Parliament that allows state governments to declare certain services like health, transport and utilities as essential and prohibit strikes in these sectors.
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Electronic data interchange (EDI) allows businesses to exchange standard business documents like purchase orders and invoices electronically. It eliminates the need to convert electronic data to hard copy and back, saving on costs. EDI transactions involve computers at different companies sending and receiving standard documents through value added networks or direct transmission. While EDI streamlines processes, it also raises legal issues regarding electronic records and signatures that various laws in India have addressed.
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The document discusses strategies for developing model suppliers and optimizing a company's supply base. It defines attributes of model suppliers, such as managing quality systems, demonstrating technology leadership, and supporting business goals. It also outlines steps for a mature supply management process, including defining a preferred supplier base, establishing strategic partnerships, integrating suppliers, and conducting supply base segmentation. Commodity source plans are developed annually based on supplier performance data and input from stakeholders to guide one-year and three-to-five-year sourcing strategies.
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This presentation discusses the importance of procurement policies, contract management, supplier management, and performance monitoring. It outlines the benefits of these practices, which include cost savings, compliance, visibility, efficiency, and risk reduction. Specific policies and tools are also presented, such as developing procurement guidelines, tracking purchases against contracts, consolidating supply chains, defining key performance indicators for suppliers, and using software to evaluate suppliers.
PROCUREMENT
Procurement involves acquiring goods, services, or works from an external source in a way that meets needs at the best possible cost. The procurement life cycle includes identifying needs, finding suppliers, communicating with them, negotiating contracts, managing supplier relationships, and handling logistics. E-procurement automates this process electronically to reduce costs, increase transparency and productivity, eliminate paperwork, and speed up transactions. While e-procurement provides benefits, risks include over-investing in tools that don't deliver value or that users reject, as well as suppliers who don't cooperate.
Category management and procurement planning
Category management is a strategic procurement approach that organizes resources to focus on specific spending categories. This allows category managers to conduct in-depth market analysis and leverage procurement decisions across the organization. The 10-step process for effective category management includes segmenting spend, forming cross-functional category teams, analyzing demand and supply, developing sourcing strategies, selecting suppliers, identifying cost-saving opportunities, creating a category plan, managing contracts and suppliers, and periodically reviewing performance.
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This document provides an overview of project procurement and contract management. It discusses key concepts like procurement management processes, contract administration, claims management, and payment processes. The procurement life cycle includes planning procurement, conducting procurements through bidding and selection, controlling procurements by managing vendor relationships and performance, and closing procurements upon completion. Effective contract and claims management aims to prevent and resolve disputes in a fair manner.
E scm
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Inventory management
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Artificial intelligence is transforming supply chain management by optimizing business processes and establishing agile supply chains. AI can help with inventory control and planning by accessing real-time information on customer demands and inventory levels. It can also help with transportation network design challenges like routing and scheduling through techniques like genetic algorithms and ant colony optimization. Expert systems allow purchasing managers to evaluate suppliers and make more informed make-or-buy decisions. Overall, integrating AI offers competitive advantages through predictive analytics and more efficient supply chain management.
E businnes and the supply chain
E-business allows companies to execute transactions over the internet, including providing product information, placing orders with suppliers, allowing customers to place orders, track orders, receive payments, and more. It plays a significant role in many supply chains today. E-business can impact a company's responsiveness by enabling new revenues through direct sales and 24/7 access, and impact efficiency by reducing inventory, facility, transportation, and information costs. For a company to be successful with e-business, it must integrate the internet with existing distribution channels in a way that leverages the strengths of each.
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Similar to Technology in Procurement
E procurement
E : Electronic
Procurement : the process of obtaining supplies, especially for an government or organization
E- Procurement : the business-to-business purchase and sale of supplies and services over the Internet.
Also Known as: Supplier Exchange
Definition: E-procurement is the business-to-business purchase and sale of supplies and services over the Internet.
102purchasing systems
Purchasing systems aim to determine quality and quantity needed, obtain the best price, and maintain supplier information. Traditional purchasing involves requisitions, purchase orders, and delivery, but has inefficiencies from non-value activities and excessive time/costs. Electronic purchasing systems like e-procurement use the internet to streamline the purchasing process through activities like e-sourcing, e-tendering, and e-reverse auctions. E-procurement can help IBM achieve buying objectives but may have limitations depending on the purchase.
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The document discusses implementing lean six sigma principles and eProcurement/strategic sourcing in a heavy machinery industry's MRO environment. It outlines the implementation highlights, including a focus on change management over technology. Benefits achieved included reduced costs, improved compliance, and faster processing times. The strategic sourcing roadmap included spend analysis, supplier evaluation, contracting, and an eProcurement system to streamline the procure-to-pay process. Key success factors included cross-functional involvement, standardization, and benefits realization monitoring.
E Procurement
E-procurement refers to the electronic acquisition of goods and services for organizations using the internet. It involves the transactional aspects of requisitioning, authorizing, ordering, receipting and payment processes. Main types of e-procurement include e-sourcing, e-tendering, e-informing, and web-based ERP systems. E-procurement provides benefits such as cost savings, control over maverick spending, improved information flow between buyers and suppliers, and increased buying power. However, concerns include security risks with new systems, transition costs, compatibility with supplier technologies, and ensuring employee skills.
B2 B Commerce
The document discusses various topics related to business-to-business (B2B) e-commerce including common infrastructure, applications, organizational structures, and supply chain management. It describes vertical and horizontal organizational structures and new forms like virtual and network structures. It also covers electronic brokerages, customization, and the push-pull models of supply chain management.
E - Procurement Report
E Procurement Explained, Need, Key Features, Benefits and Case Studies:
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The document discusses various technologies that can be used to improve supply chain management processes, including e-procurement, electronic reverse auctions, procurement cards, inventory management systems, transportation management technologies, warehouse management systems, and the system development life cycle. It warns against simply automating existing inefficient "cow path" processes and provides tips for successful implementation of new technologies to streamline operations. Key technologies are described along with typical benefits observed, such as cost reductions from implementing e-procurement systems.
TenderSearch - Services
Welcome to TenderSearch, Australia's largest privately owned tenders notification, bid management and fastest growing web based e-tender portal provider. Since 1984 TenderSearch ® has helped thousands of organisations achieve business growth with our unique intelligence services.
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Sourcesphere brochure - A Centralized Vendor Management Solution
The Applexus SourceSphere is a secure and easy-to-use web platform for B2B procurement processes. SourceSphere offers a level playing field in the acquisition of products and services. This procurement portal ensures effective collaboration between organizations and their suppliers.
ourceSphere Modules
e-Registration: Powerful yet easy-to-use window for suppliers to register, request empanelment & manage profiles
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"Welcome to [Company Name], your premier destination for cutting-edge invoice management solutions. We specialize in providing state-of-the-art software tailored to streamline every aspect of your invoicing process. From invoice processing to automation, our comprehensive suite of tools covers all your needs.
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E Procurement
It is on E Procurement of materials. Presented by Nikhil Soni and Mayank Sharma, of FMG-18A, FORE School of Management
Procurement Solutions
Xtenza is a software company that offers procurement and supply chain management solutions to help organizations automate purchasing processes, track inventory, and facilitate communication between buyers and suppliers. Their eProcuremate solution allows buyers to create purchase requests, generate RFQs, place purchase orders, receive goods, and process payments, while also enabling suppliers to submit quotes, approve POs, create invoices, and send advance shipping notices. The summary highlights Xtenza's offerings and how their software helped Larsen & Toubro reduce administrative costs and improve communication by eliminating paper-based processes when managing orders with 300 suppliers.
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E-procurement solutions, or electronic procurement, is the process of using electronic platforms and technology to automate and streamline procurement processes. This can include everything from sourcing and purchasing to payment and delivery.
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This document discusses how IoT data from devices like coffee machines can be used to improve the customer experience and business model. It proposes using IoT data to trigger automated consumables reorder notifications. This enhances convenience for customers and increases customer lifetime value. The document also outlines how IoT data can enable new service models like equipment monitoring and predictive maintenance. It argues that combining IoT, customer, and product data provides opportunities for upselling, cross-selling, and optimizing the customer journey. Finally, it discusses implementing consent management to legally and ethically use different types of customer data.home.ubalt.edu
The document discusses several topics related to e-commerce including:
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2) Key processes involved in e-commerce like payment processing, personalization, and event notification.
3) Factors for e-commerce success like selection, performance, security, and personal attention.
4) Developing an e-commerce business including getting a merchant account, hosting, certificates, and shopping cart software.
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The document provides an overview of e-business applications including e-business strategy, e-marketing, e-CRM, e-procurement, e-SCM, and e-payment systems. It discusses the objectives of e-business strategy including cutting costs, boosting productivity, and attracting new customers. It also outlines the major stages of analyzing and implementing an e-business strategy including assessing the current environment, establishing strategic targets, and transitioning to the new strategy.
20140414 V1.0.3 Bulwark eProcurement Suite Introduction
Bulwark's e-Procurement suite provides process and cost efficiencies through modules that seamlessly integrate with organization's ERP systems. It covers the entire procurement value chain including e-Vendor Management, e-Tendering, and e-Auctions. The suite automates workflows, provides reports and dashboards, and brings transparency to procurement through a secure electronic platform. Bulwark is an ISO-certified company that provides e-business process solutions to industries globally.
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Technology in Procurement
- 2. Contour Procurement Technology Types of Procurement Technologies Benefits of Technology Considerations Before Implementing New Technology Best Practice Uses For Technology
- 3. Procurement Technology Procurement Technology helps accelerate business improvements. It allows for the making, modification, usage, and knowledge of tools, machines, techniques, crafts, systems, or methods of organization, to solve a problem, improve a pre-existing solution, achieve a goal, or perform a specific function in relation to procurement and the procurement process.
- 4. Types of Procurement Technologies E-commerce; more specifically– e-sourcing, e- procurement, e-purchasing, e-auctions, e-tender, electronic payment solutions Marketplaces/business exchanges Contract registers/databases Knowledge portals/supplier databases Business intelligence n E-invoicing/e-payables ERP (Enterprise Resource Planning) systems MRP (Materials Resource Planning)/Inventory systems EPOS (Electronic Point of Sale) Bar coding/RFID (Radio Frequency Identification) Intranets Extranets
- 5. Benefits of Technology Reduction of time and Costs Collaborations with suppliers Accurate and Instant information Flows Improved Management of existing contracts, Suppliers and improved work flow managements Risk reduction (Financial and other types of risks) Increased competition, Diversity and Inclusion Transparency Improved audit Capabilities
- 6. Considerations Before Implementing New Technology Decide the Objective before choosing a technology Early Process Reengineering Strong focus on User Adoption Involvement of all affected stakeholders in implementation Consider the risks Define and reinforce metrics Return on Investment Availability of Training
- 7. Best Practice Uses For Technology Integration of financial system with procurement system to allow for verification of funds prior to the order release. Automated process flows for approvals. Enable the organization to receive electronic requisitions. Preparation of solicitations from requisition information. Utilization of “push technology” to notify potential bidders/ offerors of available opportunities. Preparation of bid tabulations and bid analysis reports. Preparation of proposal evaluation reports. Preparation and distribution of notices of award. Use of a commodity/ service code structure to group and track purchases. Automated production of purchase orders for standard inventory items.
- 8. Cont… Accumulation of usage data for contract items. Track orders released against contracts. Implementation of supplier performance reports that reflect customer satisfaction/dissatisfaction, etc. Automate recording and updates to the purchase history. Track the status of requisitions and purchase orders. Production of essential management reports and summaries. Inclusion of contract administration functionality within the technology. Use of e-commerce to source and order goods and services online. Acceptance of electronic informal quotes. Acceptance of formal competitive sealed bids.
- 9. Cont… Provide electronic catalogues to the user departments. Use of reverse auction processes for high- volume, standardized commodities. Use of online surplus auction services. Use of solicitation development software with process flow, templates, library of clauses, approval process, etc. Online posting of purchasing, award, and contract information for transparency purposes.