answersLogoWhite

0

The importance of procurement

Updated: 4/28/2022
User Avatar

Wiki User

7y ago

Best Answer

Nowadays procurement has become one of the most important things to spread out a business's products and services. It helps to outsource a product and services in the global market.

User Avatar

Wiki User

7y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: The importance of procurement
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the importance of documentation in procurement?

Procurement documentation is a process which depends on the type of the contract that has been already selected. A procurement documentation contains following parameters: Invitation to tender letter, Instructions to bidders, Specification, Drawings, Bills of quantities and schedule of rates etc. Procurement documentation plays an important role because they serve as an audit trail of how the process was carried out.


What are forms of procurement?

international procurement and national procurement


Traditional procurement and e-Procurement?

Challenges traditional procurement


What appropriations are funded for 3 years?

procurement


How can you compare project procurement strategy with corporate procurement strategy?

Compare and contrast the two basic procurement strategies of corporate procurement and project procurement


What are the importance of procurement planning?

Planning procurements includes making and documenting purchasing decisions, identifying potential sellers, and developing a procurement approach. Although the procurement planning should be done early in the project, like any other planning, it might be necessary at any stage of the project as the need arises due to approved changes or other circumstances.


What is a Procurement departments?

A procurement department is a kind of a department which handles all the activities related to procurement, like procurement services, procurement strategy, supply chain management etc.


Importance of public financial administration?

to ensure the proper revenue and expenses are carried out correctlyto ensure the purchasing/procurement is done appropriately, correctly and legally


What is the difference between E procurement and traditional procurement?

1. A traditional procurement process is a collection of many processes by interacting with other departments of a company or with the supplier. Whereas e-procurement means electronic procurement or online procurement. 2. Traditional procurement can be done by face-to-face, or via telephone. E- Procurement can only be done through online. 3. Traditional procurement is costly E-Procurement is cost effective.


How did the public procurement act of 2011 supervise procurement process in public institutions?

Roles of procurement


What is manual procurement?

Manual Procurement is a process of providing the guidance om procurement steps and policies to all the people in the different stages of procurement actions.


What are procurement cards?

procurement cards (p-cards)