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Findings on E-procurement in India - Essay Example

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The paper 'Findings on E-procurement in India' focuses on E-procurement which refers to any technology devised to facilitate the acquisition of products by an organization via the internet. E-procurement is among the new developments in the business world resulting from the advancement of technology…
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Findings on E-procurement in India
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How e-procurement can be used
E-procurement can be used in numerous ways in a fast-growing organization in its quest to hasten business operations. For instance, it can be used for e-tendering, that is, an organization can request and receive details and prices of various products offered by different suppliers via the internet (Kalakota & Robinson, 2000). In addition, an organization can use e-procurement for e-informing, that is, gathering and distributing resourceful purchasing information both within and outside the organization. Consequently, e-procurement can be used for quick identification of suppliers through e-sourcing where suppliers can be researched and contacted via the internet.
Centralization and firm’s efficiency
Among the many benefits of e-procurement is centralization of activities. Wisner, Tan & Leong (2011) argues that the e-procurement system is able to merge multiple business information systems into a unified database. Centralization hastens business activities since all information is found in one system. In fact, Centralization plays a significant role in saving time and resources since all information regarding a transaction made by an organization can be traced in one system. In summary, the adoption of e-procurement by many organizations in the modern business era has aided in the timely completion of procurement processes. Read More
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