Figure 2.6 illustrates the different steps associated with the overall procurement cycle, from the order placement to the accounts payable, in steps through a web based e-commerce network. It includes customers' inventory and supplier information and is readily accessible at any time and from everywhere. E-procurement allows two-way communication of real-time financial and purchasing information. Management at both the buying and selling end can see what is happening at any given moment and identify trends and problems. A shorter purchasing cycle enables companies to maintain lower inventory levels and respond more quickly to stock-outs. Previous Next

Comments
Post a Comment