The Role of E-Procurement in Modern Supply Chains: Strengthening Compliance and Risk Management in P
In the role of e-procurement in modern supply chains, ensuring compliance and managing risk is paramount. E-procurement systems help businesses enforce procurement policies by automating approval workflows and tracking supplier adherence to contracts. This reduces the chances of unauthorized purchases, enhances visibility into procurement activities, and ensures that companies remain compliant with industry regulations. The system helps mitigate risks by providing better oversight and control of supplier interactions.