The terms e-sourcing and e-procurement are commonly used interchangeably; however, the two aren’t exclusively the same. In this article, we’ll discuss in detail what these two actually mean, and what makes them different from one another.
The modern-day supply chain has given birth to a more globally connected network for procurement and sourcing. Even the local businesses are now making an avid presence on the international platforms. Moreover, the gradual paradigm of technology has helped businesses and commerce to integrate different sources and curate a uniform flow of data and information that allows a hassle-free supply chain cycle.
The best way to stay ahead of the competition and diligently solve the challenges, a strategic sourcing and procurement process plan that can do wonders. For high profitability, maximum efficiency, and accelerated business growth you have to think smartly from day one.
E-commerce has become the need for every business globally. Fail-proof strategies can gradually take you to the top of the place in the international marketplace. Therefore, it is crucial to understand the impact, dos, and don’ts of e-commerce sourcing and procurement.
Several people confuse procurement with purchase, and sourcing with outsourcing, etc. In this article we take an in-depth dive into the core business components; “sourcing and procurement,” and how they contribute to your business growth.
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