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E-PROCUREMENT ESPOUSAL AND ASSESSMENT FRAMEWORK FOR KARNATAKA STATE PHARMACEUTICAL COMPANIES

ROHINY. A 1, and Dr. P. CHINNADURAI 2.

Vol 17, No 12 ( 2022 )   |  DOI: 10.5281/zenodo.7498147   |   Author Affiliation: Ph. D Research Scholar, Department of Business Administration, Annamalai University, Tamil Nadu, India 1; Associate Professor, Department of Business Administration, Annamalai University, Tamil Nadu, India 2.   |   Licensing: CC 4.0   |   Pg no: 1628-1645   |   To cite: ROHINY. A, and Dr. P. CHINNADURAI. (2022). E-PROCUREMENT ESPOUSAL AND ASSESSMENT FRAMEWORK FOR KARNATAKA STATE PHARMACEUTICAL COMPANIES. 17(12), 1628–1645. https://doi.org/10.5281/zenodo.7498147   |   Published on: 23-12-2022

Abstract

Electronic Procurement (e-procurement) solution is receiving tremendous attention from all kind of industries. Indeed in today’s global business scenario use of the latest technology in organizations is no longer afterthought, rather it has gained huge importance. Organizations are rapidly incorporating their main business functions with third parties and technology platforms. With this emerging trends, companies have been forced to reengineer their business process from the traditional methods to electronic platform. Companies have begun to realize that investing in e-procurement technology pays dividend in the long run and that the reduction in the overhead costs which follow can enable them redirect their resources towards more strategic initiatives. The pharmaceutical industry stands out in particular because it entails large financial investments, a diverse variety of businesses and people, as well as major political and procurement policy implications. The peculiarities of the pharmaceutical industry's e-procurement process, the necessity of purchasing and selling items, and other measures to control the procurement cycle all have a significant impact on it. This initiative aids in lowering costs, reducing lead times, fending off competition, and making requirement planning practical. The use of electronic procurement by pharmaceutical corporations was sparked by this realization. This realization leads to the espousal of electronic procurement in the pharmaceutical companies. This paper aims at examine the various parameters influence the espousal and assessment parameters. Additionally, to progress toward developing a comprehensive framework that demonstrates the successful implementation of e-procurement in the pharmaceutical companies in the state of Karnataka.


Keywords

E-Procurement, Pharmaceutical, Supply chain management, Manufacturing. Framework, Electronic Procurement