Day: March 11, 2022

Buyers: Definition: A Buyer is an individual tasked with managing the purchasing process for a good(s) or a service(s) for a company. This includes running the purchase order with a set supplier base. An easy way to describe it is Read More …

Although small deals are becoming increasingly common, the single-source mega deal is still very much in demand due to a variety of reasons, including less administrative effort in dealing with only one supplier. A single-source procurement is also greatly beneficial Read More …

1. Enables the business to operate collaboratively 2. It ensures effective supplier relationships 3. It leads to better quality 4. Team work and communication 5. Streamlining business processes 6. Brings about innovation from the supplier base. 7. Helps to identify Read More …

Requirement identification- the organisation will try and identify the requirements and develop the strategies to respond to the market needs or demand which can either be internal or external. This stage involves: justification of the requirement through need analysis clarity Read More …

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 …