What is Procurement?

Procurement refers to the process of identifying, shortlisting, selecting, and acquiring suitable goods or services or works from a third party vendor through a direct purchase, competitive bidding, or tendering process while ensuring timely delivery in the right quality and quantity.

Source: https://kissflow.com/procurement-process/procurement-vs-purchasing/


Comments

Post a Comment

Popular posts from this blog

What is Procurement Management?

 Procurement management is the strategic approach to managing and optimizing organizational spend. It involves acquiring quality goods and services from preferred vendors within a stipulated budget, on or before the deadline. Source:  https://kissflow.com/procurement-process/procurement-management-guide/
Read more