E-procurement theory

E-procurement theory refers to the use of digital tools and platforms to streamline the purchasing process of goods and services, primarily for businesses and organizations. This approach enhances efficiency by automating tasks such as sourcing suppliers, submitting orders, and processing payments. It allows for better tracking of spending, improved supplier communication, and faster transactions. By leveraging technology, e-procurement reduces costs, minimizes errors, and increases transparency in procurement activities. Essentially, it modernizes the way organizations buy what they need, making the process faster and more accountable.