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One Indian project refers to e-procurement as a "value chain", consisting of indent management, e-Informing, e-Tendering, e-Auctioning, vendor management, catalogue management, purchase order integration, Order Status, Ship Notice, e-invoicing, e-payment, and contract management. Indent management is the workflow involved in the preparation of ...
OpenProcurement consists of a Centralized database (CDB) and the API through which specialized electronic platforms can interact with the CDB and module auctions. [5] Third-party web platforms (web platforms, which implement components of the e-procurement system, and give access to purchasing organizations, vendors, and ordinary visitors) interact with CDB using OpenProcurement API and ...
Barriers to entry reduction – Electronic auction is a significant factor increasing the probability that the tender will be awarded to a SME company. [3] It is also a significant factor increasing amount of offers in the tender. [4] These aspects might be caused by smaller requirements of electronic tenders on the companies' capacity. [5]
For business auctions, the term refers to a specific type of auction process (also called e-auction, sourcing event, e-sourcing or eRA, eRFP, e-RFO, e-procurement, B2B Auction). Open procurement processes, which are a form of reverse auction, have been commonly used in government procurement and in the private sector in many countries for many ...
Under an EPC contract, a contractor is obliged to deliver a complete facility to a developer who needs only "turn a key" to start operating the facility; hence EPC contracts are sometimes called turnkey construction contracts.
A tender notification is the publication and circulation of procurement opportunities by the procuring entity in various media like: Newspapers, purchasers's own website and government tender bulletin etc. The main objective of wider publicity is to make these opportunities available to a wider supplier community, increase the competition and ...
A request for proposal requires the bidder to produce an original business proposal based on the buyer's needs. Depending on the RFP document's specification, a bidder may be required to decide upon project expectations, timetable, product design, and vendors.
An eAuction, in contrast to an eBidding, automatically leads to the acceptance of the best tender by the buyer. As a result, buyers tend to make more competitive offers during an eAuction. As a result, buyers tend to make more competitive offers during an eAuction.