Decision-making factors for effective industrial e-procurement

For companies to remain cost-competitive in the market, they must reduce the costs of their components and materials by sourcing from least-cost suppliers. One method to achieve this is through open bidding via the Internet using a scheme called “reverse e-auction.” In this article, an in-depth literature review was carried out, followed by interviews with experts in procurement departments. This helped us to understand and evaluate the major concerns of companies that have already adopted an e-procurement system. Findings from our research may offer guidelines and more potential sources that can be utilized in strategic planning for buyers and suppliers, as well as enhancing companies’ e-procurement policies.