E-Sourcing

Overview

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.

Ready to start? See the list of upcoming reverse auctions.

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:

How do customers benefit?

  • Improving efficiency of negotiation by leveraging competitiveness in an online dynamic market
  • Equal opportunity to all bidders on an even platform
  • Transparency in procurement through process centric and system aided initiatives
  • Price reduction from benchmark by choosing the best auction strategy on a particular date for a specific item/category/commodity
  • Reduction in cycle time of purchase in terms of online negotiation vis-à-vis offline negotiation with individual bidders
  • Provision of 'best deal' to client, through all above, each time a purchase is made through online platform

E-Sourcing

Assisted Sourcing (RA++) / Sourcing Projects