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.
Public sector organizations use e-procurement for contracts to achieve benefits such as increased efficiency and cost savings (faster and cheaper) in government procurement and improved transparency (to reduce corruption) in procurement services.
Example:
  • The Central Government has set up a government e-marketplace (GEM), an online portal to procure products and services for government departments which aims to boost transparency, cut corruption and competitive pricing in public procurement.
  • With the help of Centre’s GEM, the state departments would be able to buy IT products and services as well as high-quality equipment from vendors across the country.
Source: http://bit.ly/2j7ww3P

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