______________ refers to procurement methods that make use of an electronic venue for identifying,evaluating,selecting,negotiating and collaborating with suppliers.The primary methods are online auctions,RFQ (request for quote)processing,and private exchanges.
A)E-sourcing
B)E-retailing
C)EDI
D)EFT

Question

Quizplus · Accepted Answer

E-sourcing refers to using electronic methods for conducting procurement activities, such as identifying and evaluating suppliers, negotiating pricing, and collaborating with suppliers. Online auctions, RFQ processing, and private exchanges are some of the primary methods used in e-sourcing. EDI (Electronic Data Interchange) and EFT (Electronic Funds Transfer) are electronic methods used for exchanging data and transferring funds, respectively, but they are not specific to procurement activities like e-sourcing. E-retailing refers to selling products online directly to consumers, which is not related to procurement activities.

______________ Refers to Procurement Methods That Make Use of an Electronic