Day: March 11, 2022

Strategic acquisition process with respect to pre-contract, contract and post contract stages Pre-contractual phase: Planning Includes activities related to requirement definition and preliminary procurement planning up to issuance of bid solicitation. During this phase, various activities may arise such as: Read More …

1. Make a business case 2. Identify the total spend and divide the products into categories of items. 3. Identify the strategies of the business. 4. Obtain support from management. 5. Create high level cross functional teams 6. Strategically review Read More …

Strategic Procurement from a sector wide standpoint has many benefits. These benefits include: Cost Reduction – a reduction in the cost to do business; these cost savings should be evident for both the vendor and the companies. Demand Aggregation – Read More …

It‘s a long-range plans for ensuring timely supply of goods and/or services that are critical to a firm’s ability to meet its core business objectives. Steps in strategic procurement process Strategic procurements are core acquisitions that could determine organisation‘s success Read More …

The concept of strategic sourcing was popularized in the 1980s and 1990s and is now considered a standard purchasing strategy used by blue chip companies. Strategic sourcing refers to the process of taking advantage of purchasing opportunities by continually reviewing Read More …

1. Initiation/ preparation 2. Identification of priorities 3. Preparation of strategy 4. Implementation of the changes 5. Maintain the level of performance 6. Continuous improvement

1. Organisation structure –it defines responsibility, authority and power of procurement department. 2. Efficient procurement process –the approvals, conditions, risk, supply chain management process, negotiation, measurement are going to affect the efficiency of the category management. 3. The people. 4. Read More …

1. To raise the profile and competency of procurement across the organisation. 2. Savings. 3. Improvement of service levels. 4. Product availability. 5. Value for money is realised. 6. Reduction of risk in supply 7. Delivery of world class procurement Read More …

1. Better management of resources. 2. To manage and exploit changing business condition. 3. Supplier consolidation. 4. To enable one to leverage resources e.g. people, knowledge, expertise 5. Minimize supply chain risks. 6. Improved quality and services. 7. Leverage presence Read More …