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TOPIC 5 ORDERING PROCEDURE This is a set by step process of acquisition of goods , services and works as recommended by PPDA (2005) A: IMPORTANCE OF FOLLOWING PURCHASE PROCEDURES Ensure public organisations get value for money Enhance transparency and Read More …

TOPIC 4 SOURCING Topic 1 : Introduction to sourcing Definition of sourcing Sourcing is the process of identifying, selecting and developing suppliers. The definition of sourcing can be simple or much more complex, the simple definition is “the process involved Read More …

TOPIC 3 DETERMINATION OF PRICE AND RIGHT TIME TO BUY: PRICE Defin 1: A value that will purchase a finite quantity, weight, or other measure of a good or service. Defin 2 the sum or amount of money or its Read More …

TOPIC 2 QUALITY AND QUANTITY DETERMINATION Introduction to concepts in quality management: Defin 1 : Quality: ISO 8402 defines quality as the totality of features and characteristics of a product that bears on the ability to satisfy stated or implied Read More …

TOPIC 1 SCM AND PURCHASING FUNCTION Introduction: Definitions: Procurement: The term procurement is defined as the acquisition of merchandise or services at the optimum possible total cost in the correct amount and quality. These goods and services are also purchased Read More …

INTRODUCTION TO COST ACCOUNTING Purpose The main object of this lesson is to introduce the learner to cost accounting; uses of cost information; cost concepts and the differences between cost accounting and financial accounting Specific Objectives By the end of Read More …