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Case Study and Project: e-Procurement (e-RFQ, e-Tender, e-Auction)
The Problems Faced By People:
Accepting Subpar Quality to Reduce Costs
Cost is still a major factor in consumer products in the modern corporate sector. Firms continue to cut costs aggressively even when it hurts the product’s quality. Often, management has great hopes that the quality risk would not be identified while changing the quality dimension to save costs.
Failure to Conduct Supplier Assessment Before Business Transactions
Organizations frequently fail to conduct supplier assessments and rely solely on written agreements with suppliers. Keeping suppliers at a distance and running a business without showing any judgment opens the door for anomalies and unreliable experiences. Various procurement issues result from a lack of confidence in any involved sides.
Uncertainty in Specifications and Requirements
A “help me help you” situation might arise when unclear specifications and requirements are provided during the procurement process. If the business offers precise and specified needs during procurement, providers will typically do a far better job of fulfilling client requests.
Not understanding what a supplier can do.
You are more likely to get unsatisfied when potential procurement issues occur if you don’t have a good awareness of supplier capabilities. The results are typically devastating when a supplier is expected to finish a procurement transaction quickly beyond his means. Regarding suppliers, this procurement issue is one of the most difficult ones that professionals in procurement face. The process—from choosing the finest to guaranteeing consistent and reliable delivery—can be crucial to getting more from your suppliers.
How We Solved The Same
Electronic data interchange and enterprise source planning are two examples of the information and networking tools used in e-Procurement, which is the business-to-business buying and selling of goods, services, and labor through the internet.
The e-Procurement value chain includes indenting management, e-informing (RFQ), e-Tendering, e-Auctioning, vendor management, catalog management, purchase order integration, and order of tenders, with different procurement departments defining their indenting processes. While acquiring works, administrative and technical sanctions are both received electronically.
E-auctioning is the process of holding an online competitive bidding auction to sell goods, resources, or other items. Electronic auctions are completely transparent and allow for greater participation than physical ones.
Some features include:
Real-time data: Regardless of location or connection characteristics, it ensures that the auction interface refreshes in less than a second.
Eliminate data silos: All purchasing-related data remains in a single interface when all transactions, communication, and crucial collaboration occur in an e-procurement solution. Not only can a centralized procure-to-pay solution, like Kissflow Procurement Cloud, make it easier to handle purchasing data, but it can also streamline the entire procurement process, from sourcing to processing and paying invoices.
