E-Procurement

E-procurement (electronic procurement) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work and services through the internet.

Typically, e-procurement websites allow qualified and registered users to look for buyers or sellers of goods and services. Depending on the approach, buyers or sellers may specify costs or invite bids. Transactions can be initiated and completed. Ongoing purchases may qualify customers for volume discounts or special offers. E-procurement software may make it possible to automate some buying and selling. E-procurement is done with a software application that includes features for supplier management and complex auctions.

The European Union supports e-procurement by an action plan for e-procurement of 2004.

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