Stages of Procurement Process

What is Procurement ?

Procurement involves buying of goods and services

from well developed countries.

Sourcing is very important in the modern trade and

commerce.

It helps to reduce the operational cost.

This service has various stages.

This service is best managed by a procurement

service provider.

Stages of Procurement Service

The part of the procurement that we are concerned with is

sourcing. Global sourcing is very important in the modern

trade and commerce. It help to cut the operational cost.

Now the procurement service has various stages.

Requirement Analysis .

Market Research.

Supplier Management

Requirement Analysis

Requirement determination is the main aim of

this stage.

A judgment is also made whether procurement

is the best solution or not.

External consultation is also undertaken

whenever required.

The other activities include consideration of

category management plan.

Market Research

In this stage identification of products and

suppliers are made.

Huge amount of effort is to be put in the

market research.

Extensive market research is required for

larger procurement activities.

Supplier Management

Always try to identify new suppliers.

Suppliers can widen the procured products market.

Most of the organizations hire suppliers from the

developing countries.

So procurement service provider helps you a lot.

Contact Us