Revolutionizing Tender Evaluation in Public-Sector Procurement through Blockchain Technology
Procurement processes are fundamental to public and private sector operations, involving the acquisition of goods and services essential for functionality. In India, platforms like the Government e-Marketplace (GeM) have modernized procurement through digitization.
Ng et al. (1997) (Ref1) identified three primary factors that impact the duration of the procurement cycle. The first factor is the evaluation of suppliers, which focuses on selecting suppliers who can deliver products in a timely manner. The second factor is the internal procurement process, particularly the time it takes to convert a purchase requisition into a purchase order. The third factor is the nature of the relationship between the firm and the supplier