eSign PPT for Procurement Myself

Help Me With eSign Word for Procurement

[Music] welcome back we have started discussing about how to connect your external stakeholders and in this context last class we saw that you can connect to your external stakeholders who are public through your corporate website today we are going to see how to connect to one of your very important supply chain partner that is your supplier so we are now going to discuss about the e-procurement system so in this particular lecture we are going to learn what a procurement is what are the benefits of a procurement what is the traditional procurement process and how it is reengineered with the help of information and communication technologies which we call as the e-procurement now to start with let us see what the procurement is in fact here are three terms when we people talk about procurement three important terms terms come in one is your procurement second one is your purchasing third one is your sourcing now what is the difference between two in fact the last one is included in the previous one that is sourcing is a part of purchasing and purchasing again is a subset of the procurement so what is procurement procurement is the systematic process of deciding what when and how much to purchase and the act of purchasing it and the process of ensuring that what is required is received on time in the right quantity and quality specified so which means starting from the indentation till your supplier evaluation the whole thing is actually included in the procurement process now when it comes to purchasing purchasing is only the act of buying the material and services with right quality and right quantity and at the right price from the right source and at the right time so this is only the act of purchasing but before this purchasing takes place you have to know which material to purchase so you have to go through certain indentation process you have to prepare your requirements and so on so this purchasing is just a subset of the procurement then comes the term sourcing what is sourcing sourcing is the act of finding evaluating and engaging the suppliers of goods and services so basically it is about finding the right supplier now what is the procurement then e procurement is the online procurement is the application of various online in power various important information and communication technology I mean specifically internet to facilitate the corporate bank or in other words online procurement is a technology solution to facilitate corporate by using internet and other ICT tools so these are few benefits of procurement it reduces administrative cost it shortens order fulfillment cycle it lowers inventory cost it lowers the price paid for the goods by inducing the competition among your suppliers then it in it also increases the collaboration among the partners through technological intervention and helps in planning together so here we are going to see two example situation example cases where...