ITM 350 Lecture Notes - Lecture 8: Uptodate, Dynamic Pricing, Vickrey Auction

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 350
• Professor: Franklyn Prescod

Document Summary

The complete business process for acquiring goods though electronic means. The tradiional e-procurement process comprises the following steps: Supplier selecion and approval is criical in managing costs in the procurement process. Usually done through request for quotaions (rfq). Maverick buying is the unauthorized purchase of goods by employees through non-rouine and poorly controlled means, such as acquiring oice supplies with pety cash. Reduce reliance on other forms of communicaion in the procurement/selling process. Aka hubs, ehubs, marketplaces, consoriums and combinaions of these (someimes with b2b added) Verical: have an industry/market focus, such as health care or energy products and services. Horizontal: have a product/service focus, such as computers or oice equipment, and that do not target any speciic industry. Private: limits paricipaion to speciic buyers/sellers - related to the exchange provider"s supply chain. Operate with a variety of service levels and allow for varying degrees of integraion. Range from simplisic (brochureware) to catalog sites, to fully integrated collaboraive environments.