E-Sourcing&E-Auctions in Procurement Operations: An Effective&Expedient Approach

Today's world is the world of high demand and supply. Where firms or organizations are seeking ways to fulfil those demands and productive& effective supply chain. Supply chain professional are thinking, analyzing, executing and creating strategies about how to compete in a much more better way. This has further motivated many organizations to adopt efficient strategies in order to enhance cost efficiency, supply chain processes and finally efficient and productive results. Now, here new& recent concept came into picture called as E-Auctions& E-Sourcing. An E-Auction is a well-known e-Sourcing concept. E-Auctions work by putting a plunging pressure on the charges by introducing competition into the procurement process and determining the bidding winner - the firm to whom the contract is to be awarded In this paper we will introduce the benefits of E-Sourcing& E-Auctions and issues, challenges in the same area.