Month: March 2022

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 …

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 …