electronic sourcing (eSourcing)

E-Sourcing is the web-based purchasing process that supports buyers in their procurement strategy. It is a strategic approach for the lowering of product costs, their procurement and administration, for the reduction of the procurement cycles and for the shortening of the Time ton Market( T2M).

As a procurement strategy, e-sourcing can equally support the procurement and purchasing of products, goods and services. The strategic approaches for E-Sourcing can refer to the optimization and reduction of the purchase costs and conditions, to the delivery times, delivery quantities, quality characteristics and other. E-sourcing can support and execute the purchasing process through targeted actions with suppliers, tenders and auctions. Buyers can access central information databases and thus optimize the procurement process.