e-sourcing

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e-sourcing

The electronic procurement of products. Although purchases have been computerized for decades, e-sourcing implies more automatic procedures; especially dealing with contracts and processes that continue to be reviewed and managed entirely by individuals. See TCM and supply chain management.
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"The eSourcing system will ensure a fair, transparent and accessible engagement with our vendor partners.
eSourcing will provide solid governance practices that promise efficiencies, and produce competitive services and products in the delivery of the event.
"Electronic Sourcing (eSourcing) is a well-established practice in our enterprise procurement group," notes Abdullatif Albastaki, Head of Procurement & Realty Services for Emirates NBD.
SunGard's cost savings from using our web3 eSourcing solution clearly demonstrates how eProcurement technology can support an organisation's cost saving initiatives.
After mastering eSourcing tools and using them in their day-to-day sourcing processes, leading companies are turning their attention to next-generation strategies.
According to the report, eSourcing products are the second-most sought after in the electronic purchasing family, with the global market reaching US$ 878 million in 2008 and expected to top US$ 1 Billion in 2009.
Instead, they start by implementing one of several eSourcing point solutions.
A Center of Excellence is a small, center-led group of procurement experts within an organization who focus on standardizing processes, leveraging eSourcing technology, capturing best practices, sharing knowledge, and streamlining procurement activities.
"Our 'Buy World' programme initiatives will now be delivered more quickly and more efficiently through the global deployment of Tejari / BravoSolution eSourcing platform, helping us to deliver greater benefit within Purchasing and Supply Management functions at our 60 international terminals,"