PROCESS OF ISSUING INVENTORY.

1. Requisition. All requests for issuance of goods from stock shall be covered by the requisition and issue venture (RIV) from which is the official document designed for this purpose. All the requests for issuance of the requirements shall be Read More …

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Procurement Contracts

Types: 1. Firm fixed price. Also known as Lump sum. It is generally utilized in government based project. Here the seller and the purchaser make a deal on a fixed price on a certain project. Furthermore the seller is objected Read More …

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Challenges faced by organizations when executing Procurement Contracts.

1. Lack of proper experts to develop or understand proper documents e.g. specifications contract documents. 2. Compliance with the contract requirements. 3. Collaboration and cross-function with other departments. 4. Competition e.g. technology. 5. Change in Business environment i.e. prices fluctuate.

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