The Role of E-Procurement in Modern Supply Chains: Streamlining Supplier Selection and Ensuring Comp
The role of e-procurement in modern supply chains streamlines supplier selection and ensures compliance with contractual obligations. E-procurement platforms enable businesses to create a centralized database of suppliers, allowing easy comparison based on pricing, performance, and delivery reliability. By automating supplier evaluations and contract management, companies ensure compliance with terms and conditions, reducing risks associated with supplier non-compliance and improving procurement decision-making processes.