ITM 350 Chapter 8 Notes.docx

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Information Technology Management
ITM 350
Franklyn Prescod

ITM 350 Chapter 8 Notes Epocurement Trading Exchanges and Auction The Epocurement Process View page 171 Figure 81 Benefits of Epocurement Cost and EfficiencyPrice and reduction and increased process efficiencies Strategic ProcurementStaff will be able to focus effects on more important tasks such as strategic sourcing and supplier relations Authorized SuppliersConsolidating buying from a small number of approved suppliers so employees can only buy from trusted suppliersMaverick Buying the unauthorized purchase of goods by employees through nonroutine and poorly controlled means such as acquiring office supplies with petty cash Trading Exchanges Vertical Trading Exchanges are ones that have a specific market focus such as health care or e
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