From the course: Purchasing Foundations
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E-sourcing
- When did you last buy something? It's very likely that you bought it on the internet, like from Amazon, or directly from the company that made it. Online buying has been growing tremendously over the past 10 years, and many companies today measure themselves by how fast their internet sales are growing. And that's not just you and me buying things on the internet. Business to business commerce is also growing. For the buyer, this is called eSourcing. Making company purchases from key suppliers through a totally electronic transaction. Buyers and suppliers have been connected electronically for quite a while, and the software to do this has grown significantly over the years. At first, the two companies were connected by EDI, or Electronic Data Interchange, which allowed them to exchange information in the standard format. Today, purchasing software helps buyers to automatically place orders over the internet. Here's how such an electronic order process would work. First, the…
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