E-procurement and diffusion of innovation theory and Rogerss model Thesis

E-procurement and diffusion of innovation theory and Rogerss model - Thesis Example This research will begin with the statement that procurement is one of the most crucial aspects of any organization. In general term, it is defined as the process of purchasing goods and materials at a proper time at the best affordable price. E-procurement involves using the internet and other web-based technologies as a tool for procurement. The success of this technique in the private sector has also aroused considerable interests among the public sector organizations with regards to adopting and implementing e-Procurement in their business process. In a typical e-Procurement process, an organization purchases goods and materials from suppliers by using the internet as a medium. E-procurement processes are characterized by the presence of e-marketplaces which is a platform that brings suppliers and buyers together. E-marketplaces also have the option of a reverse auction where competitive bidding can be undertaken for procuring a particular material. The process of e-Procurement i nvolves the following steps namely: Review of various suppliers Compiling documents related to ‘Request for Quotations’ Â  Sending out ‘Request for Quotations’ Revisions and resending related to ‘Request for Quotations’ Receiving proposals of RFQ’s Compiling and evaluating response Review of bids Narrowing down on the list of bidders Negotiations Selecting the winning bid.