E-Procurement Literature review Example | Topics and Well Written Essays - 1750 words

E-Procurement - Literature review ExampleUsual methods of procurement conduct lots of paper work processing, which requires a huge amount of money and time. E-procurement has reduced this work largely. E-procurement is a chief element of B2B ecommerce and it can be used in markets and industries in wide range. Business organizations barter for m some(prenominal) productions of diverse varieties, ranging from paper clips to computer systems and from steel to equipments. They buy raw material inputs, which directly go in manufacturing process and the raw materials that need some repairing and maintenance before going into manufacturing process. There ar thousands of other items purchased by an organization and keeping their receipts in record is very necessary for organizations to reserve professionalism. The main driver of e-procurement is cost-reduction attained from competencies resulting in less staff time spent in facial expression for and ordering products and integrating de liveries with invoices. Savings also take place with automatic corroboration of pre approved pulmonary tuberculosis budgets for individuals or organizations leading to less time necessary for processing each order (Turban, pp.251-252, 2010). Automatic ordering, delivery, confirmations, payment, and blood line information diminish paper work, costs of paper-based ordering forms, storage space for credentials, records, and better information management. corroborative benefits of e-procurement include a shorter cycle time between order and use of supplies, greater suppleness in ordering products from different suppliers, amplified buyer productivity, and lower prices through product standardization and union of buyers (Havaldar, pp.379-382, 2010). Benefits to buyers of e-procurement include receive from improved pricing of goods and services, cost savings in the running of procurement processes, merger of buyers sub entities into a single buying unit, and minimized costs through pu rchasing aggregation for some items. Other nonphysical benefits include enhancement in operations support, employee efficiency, evident purchasing behavior of business partners and supplier performance. gloaming in procurement-to-pay cycle time and costs associated with outsourcing procurement and it helps maintaining smooth procurement operations. It also causes huge savings in invoice, finance, goods insurance, and delivery (Gay, Charlesworth & Esen, pp.474-475, 2007). Conversely, suppliers benefit from lower managerial costs, use of standard online catalogues that can be right away updated with new product information, more effectual targeting, and access to a wider range of buyers (Babin & Weiss, pp.89-91, 2009). Additionally, lower inventory and memory costs are also the advantages of suppliers. Other opportunities contain lesser advertising, selling and service costs, extended product and service offerings, enhanced cash flow through better inventory returns and accounts re ceivables, a more thoroughgoing(a) anticipation about a buyers purchasing needs, and immediate responsiveness to a buyers needs (N, pp.28-29, 2004). Nevertheless, for each e-marketplace contributor, the benefits provide differ according to the contributors position. As buyers go for e- procurement, suppliers may not have any other option rather than joining in. The majority of suppliers are also buyers therefore, net result is an change magnitude involvement in e-procurement. E-procurement offers benefits in many