Posts Tagged ‘e-procurement’
How eProcurement can Work for You: Sourcing Products and Supplies Online
Wednesday, September 26th, 2007
As more and more people take advantage of the options that the Internet offers as far as business, new applications are developed. One of the very latest is the concept of e-procurement . This concept involves using software to source products and supplies online for businesses. Let’s take a look at some of the advantages of this process.
The Biggest E-Procurement Advantage: Saving Time!
While it may be easier to conduct business today than it ever has been before, the old adage that ‘time is money’ still applies. You want to spend as little time as possible on the smaller details of running a business in order to maximize the time you spend actually making a profit (i.e., selling or producing).
Procuring supplies and products electronically will mean that you shave a lot of valuable time off of the procurement process. You will not have to look all over for sources of products and supplies; instead, the software will provide a list of reputable wholesalers who can make the supplies or products available to you. This can save a lot of time in the future.
For example, a wholesale company has access to your inventory as it is kept on a day to day basis. Instead of you having to call them and order a certain amount of product each time, you specify a level at which an amount of product or supplies will be shipped to you.
Saving Money
Time is money, so when you save time you save money, and using e-procurement means that you will be able to save some real cash. First of all, you will not have to worry about paying an employee or purchasing agent to secure products and supplies for you; the software takes care of this itself, effectively acting as the middleman between the wholesaler and you.
Second, you might find that as you sell more goods, you are offered better prices. Offloading goods is the goal for most wholesalers, so if they can count on your business to provide a steady stream of sales, it is more likely that they will be willing to offer your business discounts, bulk savings, and so on. Paying less means you make more when you sell.
Saving Hassle
There are a lot of considerations to take into account with a business, and using an e-procurement system will mean one less thing you have to think about or decide on in the course of a week. The automation of the supply chain process will allow you to make decisions about frequency of purchase and quantity once a month - or less! - instead of the frequent communication that must occur using a traditional procurement process.
In short, there are several advantages of using e-procurement to source products and supplies. In the end, the advantages all add up to money saved in some form or another, equaling great profits for your business.
Tags: advice, E-Commerce and E-Business, e-procurement, Leeia Ladipoh, online, Product Sourcing, source, sourcing products, tips, wholesale
Posted in News & Articles | No Comments »