Core Procurement Activities
planning: Organizations need to plan purchases whether
for manufacturing or supplies.
- Development of
detailed specifications of the goods or services to
the market to identify suppliers and choose the best
supplier according to predefined business criteria such as
quality, pricing, time for delivery, etc.
the best price with the selected vendor(s) and development
of contracts inline with the business objectives.
planning and budget management involves identifying and
setting aside funds for the procurement.
the purchase. This involves proper documentation and
tracking of the purchasing process.
control and tracking involved proper management of