Procurement Process

The procurement process includes the acquiring of commodities by a company, organization, institution or an individual. The procurement process can start with a bidding procedure in which sellers and buyers establish their prices and the buyer accepts the lowest possible bid. After choosing the best buyers, a quality inspection is needed in order to confirm that the suitability of the goods that are being sold. The next step in the procurement process would be to negotiate the terms, conditions, quality and delivery schedules of the goods.

Whenever an organization makes a purchase, a description of what the buyer needs has to be distributed to the supplier. Deciding on effective suppliers is a major activity for the procurement process department. In order to evaluate a supplier, there are four aspects you must keep in mind. These aspects involve the attitude of the supplier, their technical competence, commercial aspects and their financial standing. Once you have created a list of things to evaluate the supplier on, the procurement process can resume. To learn more about the procurement process, please go to www.dobetterdeals.com