All You Need to Know about Procurement


The meaning of procurement is to purchase, and that is what the profession is all about. You have to purchase raw materials, services, finished good or different types of works on behalf of your company. This is a profession of responsibility and good procurement personnel are high demand in most industries, especially companies whose scale of operations is large, or are owned by the government.

When the company creates a purchase order, the procurement personnel have to begin looking for vendors and suppliers. If the purchasing is not done through tender or bidding process then they have to get their quotations, compare prices and select a supplier. They have to ensure they get the price for high quality, so their end product or service to their consumers is also of high quality.

The work of the procurement personnel is a little more complicated when the vendors approach through tenders or bidding. Complicated contracts, lawyers and government personnel are also involved. But the fundamentals remain the same. Best price for the best quality.

Once the purchases are made, they have to ensure they get delivered on time, and when the delivery happens, they have to do a deep inspection of the supplied goods to ensure that the quality and the quantity agreed upon is delivered. There are processes that ensure everything is in order. Only after the clearance of the procurement personnel, the materials are then taken further for production.

You can do a course like procurement training for beginners to get started in this profession