payment is handled electronically through the same portal as
Beyond merely automating shipping and receiving tasks,
however, e-procurement offers far more process improvements and innovative
options for streamlining business operations and maximizing strategic initiatives.
E-procurement enables access to global suppliers, real time communication between buyers and
suppliers, electronic payment of invoices, and assignment of logistics freight
rating and routing.
E-procurement has also spawned creative new business models such
as auctions for suppliers to sell excess inventory, reverse auctions where suppliers bid to
fulfill a buyerís order, and trade exchanges where buyers and sellers simultaneously bid for each otherís