To assess your understanding regarding the use of tools as well as digital marke

Question

To assess your understanding regarding the use of tools as well as digital marketing techniques for an organization of your choice. Action Items 1 Evaluate the effectiveness of E-Procurement and E-Auction. 2 Usability Modeling of ICT and other resources (UM) a. Finding the optimal solution b. Cost and Schedule Analysis c. Recommending and Implementing the resources 3 Web-enabled Supply Chains (WEB) a. A Web-enabled Procurement System b. A Web-enabled order tracking system c. Warehouse Management System d. Customer Relationship Management 4 Explain the role of cloud computing, traceability, RFID and other ERP solutions. 5 Discuss the industry response towards the use of ICT and various tools discussed above. 6 To apply critical thinking by the students.

Explanation / Answer

Effectiveness of E-Procurement and E-Auction

Electronic auctions help in can increase competition by decreasing contracting costs, increase transparency and achieve better economic benefits. Time is the key and in this fast world the technology should be used in each possible way. The E-Procurement and E-Auction is the new rule in the book. Imagine with an ease of click one can buy or auction anything without even going any where. There are companies who take a commission and provide the consumer with latest auctioning schemes. One can sell his old stuff and buy new ones with just a click.

Lowest price is possible- There are two types i.e. multi-criteria and single-criterion e-auctions. Price is one of
the criteria of the e-auction. In the event of e-auction, prices are constantly changing, which is mostly demonstrated by their reduction. E-auction helps in achieving the lowest price possible.

Balance of Power- Earlier there was a gap between a buyer and seller and also the limitations for both as some oter agents were there in between. But now with E-Auctions and E-Procurement one can enjoy the balance of power between them and also the transparency in things.

Ease of Payment- To better control the cash flow and to manage the timely and efficient payment of suppliers due to more streamlined procurement processes providing more timely and accurate information to the accounts payable department.

Oters benefits include reduction in manpower, spending on postage and stationery. During negotiations the procurement manager can more credibly guarantee the supplier a level of prompt payment, which was not possible prior to e-procurement.

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