A company wants to source bids from multiple suppliers via a single online portal. Which technology is this?

A company wants to source bids from multiple suppliers via a single online portal. Which technology is this?

• A. Electronic Sourcing (eSourcing)
• B. Automated Procurement System
• C. Procurement Card (pCard)
• D. Smart Card

Answer: (A)

Electronic sourcing uses an online portal to invite and collect bids from multiple suppliers, creating a centralized, competitive bidding environment. This approach lets a company issue requests for proposals, quotes, or specifications and compare responses side by side, often with tools like reverse auctions or RFQs, all within one platform. It directly fits the scenario of sourcing bids from several suppliers through a single online portal, promoting transparency, speed, and better value. The other options don’t fit as well. An automated procurement system focuses on streamlining purchasing processes often end-to-end but not specifically on gathering bids from multiple suppliers via a portal. A procurement card is just a payment method for routine purchases, not a sourcing or bidding tool. A smart card is a physical card used for authentication or payments, not for sourcing bids.

Electronic sourcing uses an online portal to invite and collect bids from multiple suppliers, creating a centralized, competitive bidding environment. This approach lets a company issue requests for proposals, quotes, or specifications and compare responses side by side, often with tools like reverse auctions or RFQs, all within one platform. It directly fits the scenario of sourcing bids from several suppliers through a single online portal, promoting transparency, speed, and better value.

The other options don’t fit as well. An automated procurement system focuses on streamlining purchasing processes often end-to-end but not specifically on gathering bids from multiple suppliers via a portal. A procurement card is just a payment method for routine purchases, not a sourcing or bidding tool. A smart card is a physical card used for authentication or payments, not for sourcing bids.