|
E-procurement
E-procurement (electronic procurement, sometimes also known as supplier exchange) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems, such as electronic data interchange and enterprise resource planning. The e-procurement value chain consists of indent management, e-Informing, e-Tendering, e-Auctioning, vendor management, catalogue management, purchase order integration, Order Status, Ship Notice, e-invoicing, e-payment, and contract management. Indent management is the workflow involved in the preparation of tenders. This part of the value chain is optional, with individual procuring departments defining their indenting process. In works procurement, administrative approval and technical sanction are obtained in electronic format. In goods procurement, indent generation activity is done online. The end result of the stage i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procurement
Procurement is the method of discovering and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. When a government agency buys goods or services through this practice, it is referred to as public procurement. Procurement as an organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and fluctuations in the prices of goods. Organisations which have adopted a corporate social responsibility perspective are also likely to require their purchasing activity to take wid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Request For Quotation
A request for quotation (RfQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RfQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). An RfQ typically involves more than the price per item. Information like payment terms, quality level per item or contract length may be requested during the bidding process. To receive correct quotes, RfQs often include the specifications of the items/services to make sure all the suppliers are bidding on the same item/service. Logically, the more detailed the specifications, the more accurate the quote will be and comparable to the other suppliers. Another reason for being detailed in sending out an RfQ is that the specifications could be used as legal binding documentation for the suppliers. The ubiquitous availability of the Internet has made many government agencies turn either to state-run or vendor operated web ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ERFx
{{Unreferenced, date=May 2009 In procurement technology, ERFx (or eRFx) is an acronym for electronic request for '', where ''x'' can be Proposal (RFP), Quotation (RFQ), Information (RFI) or Tender (RFT). Other pseudonymous acronyms include ITT (Invitation to Tender) and PQQ (Pre Qualification Questionnaire). All relate to a similar activity: a buyer requesting information from potential suppliers for the purpose of evaluation and comparison. Often this is part of a tendering exercise. The more structured this information is, the easier it is to compare the suppliers. For example, it is more effective to ask 20 multiple choice questions than it is to ask 2 essay questions, as long as suppliers have an opportunity to provide commentary to qualify their answers. Therefore, eRFX software should help the buyer to compare suppliers in useful ways – e.g., apples vs. apples. eRFx software is a subset of eSourcing software (software that helps buyers to source suppliers), which is in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business-to-government
Business-to-government (B2G),Market Business NewsWhat is B2G or business-to-government? Definition and examples accessed 31 August 2020 also known as business-to-administration (B2A), refers to trade between the business sector as a supplier and a government body as a customer. Public-sector organizations generally post tenders in the form of requests-for-proposals, requests-for-information, requests-for-quotations, and sources-sought, to which private suppliers respond. Business-to-government networks provide a platform for businesses to bid on government opportunities that are presented as solicitations, in the form of requests-for-proposals, through a reverse auction. B2G includes the segment of business-to-business marketing known as ''public sector marketing'', which encompasses marketing products and services to various government levels— local and national—through integrated marketing communications techniques such as strategic public relations, branding, marketi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process
A business process, business method or business function is a collection of related, structured activities or tasks by people or equipment in which a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the business object ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Software System
A software system is a system of intercommunicating components based on software forming part of a computer system (a combination of hardware and software). It "consists of a number of separate programs, configuration files, which are used to set up these programs, system documentation, which describes the structure of the system, and user documentation, which explains how to use the system". The term "software system" should be distinguished from the terms "computer program" and "software". The term computer program generally refers to a set of instructions ( source, or object code) that perform a specific task. However, a software system generally refers to a more encompassing concept with many more components such as specification, test results, end-user documentation, maintenance records, etc.' The use of the term software system is at times related to the application of systems theory approaches in the context of software engineering. A software system consists of seve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vendor Management System
A vendor management system (VMS) is an Internet-enabled, often Web-based application that acts as a mechanism for business to manage and procure staffing services – temporary, and, in some cases, permanent placement services – as well as outside contract or contingent labor. Typical features of a VMS application include order distribution, consolidated billing and significant enhancements in reporting capability that outperforms manual systems and processes. In the financial industry due to recent regulations (see FRB SR13-19; OCC 2013-29 and CFPB 2012-03), vendor management implies consistent risk classification and due diligence to manage third-party risk. A number of institutions have re-classified or renamed their programs to Third Party Risk Management (TPRM) to align with the verbiage used by the regulatory agencies. Definitions The contingent workforce is a provisional group of workers who work for an organization on a non-permanent basis, also known as freelancers, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enterprise Resource Planning
Enterprise resource planning (ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software—typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from many business activities. ERP systems can be local based or cloud-based. Cloud-based applications have grown in recent years due to information being readily available from any location with Internet access. Traditional on-premise ERP systems are now considered legacy technology. ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Sharing
Information exchange or information sharing means that people or other entities pass information from one to another. This could be done electronically or through certain systems. These are terms that can either refer to bidirectional '' information transfer'' in telecommunications and computer science or ''communication'' seen from a system-theoretic or information-theoretic point of view. As, "information," in this context invariably refers to (electronic) data that encodes and represents the information at hand, a broader treatment can be found under data exchange. Information exchange has a long history in information technology. Traditional information sharing referred to one-to-one exchanges of data between a sender and receiver. Online information sharing gives useful data to businesses for future strategies based on online sharing. These information exchanges are implemented via dozens of open and proprietary protocols, message, and file formats. Electronic data interc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activities, information, and resources involved in delivering a product or service to a consumer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product and delivering the same to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. Overview A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Directive (European Union)
A directive is a legal act of the European Union that requires member states to achieve a particular result without dictating the means of achieving that result. Directives first have to be enacted into national law by member states before their laws are ruling on individuals residing in their countries. Directives normally leave member states with a certain amount of leeway as to the exact rules to be adopted. Directives can be adopted by means of a variety of legislative procedures depending on their subject matter. The text of a draft directive (if subject to the co-decision process, as contentious matters usually are) is prepared by the Commission after consultation with its own and national experts. The draft is presented to the Parliament and the Council—composed of relevant ministers of member governments, initially for evaluation and comment and then subsequently for approval or rejection. Justification There are justifications for using a directive rather than a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Procurement In The European Union
Government procurement or public procurement is undertaken by the public authorities of the European Union (EU) and its member states in order to award contracts for public works and for the purchase of goods and services in accordance with principles derived from the Treaties of the European Union. Such procurement represents 14% of EU GDP ,European CommissionCommunication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions: Making Public Procurement work in and for Europe COM(2017) 572 final, published 3 October 2017, accessed 20 October 2021 and has been the subject of increasing European regulation since the 1970s because of its importance to the European single market. According to a 2011 study prepared for the European Commission by PwC, London Economics and Ecorys, the UK, France, Spain, Germany, Poland and Italy were together responsible for about 75% of all public procurement in the EU ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
