E-Sourcing was introduced by mjunction as a primary service. It strives to deliver value to our clients and is a preferred choice for companies which invest heavily on price discovering processes in terms of resource-effort & time. The associated service delivery system (including our platform) undergoes detailed planning procedures & interventions to ensure that the correct market forces are included in e- bidding processes.
Through e-sourcing, we have initiated a real time dynamic auction between a single buyer and a group of pre-qualified suppliers. These suppliers in order to win the business of supplying goods or services to the buyer try and compete against each other by submitting successive lower priced bids over the internet with the help of a specialized software.
These bids are entertained for a specified period of time which is usually about an hour but brief extensions are permitted if the bids keep pouring in beyond the time limit.
The process we follow
Online price discovery is enabled through our e-platform using E-Sourcing as the primary technological tool. This service is broadly classified into 3 phases: