What are the Stages of Procurement?

Courtesy-franchiseindia

If you are considering training to be a professional in procurement, then theres a lot you need to know. One of those things is what the different stages of procurement are. So, for your knowledge, heres information on this subject.

Purchase Order – The Company first issues a purchase order to the procurer so they know are the things that need to be purchased. They have to ensure the order is correct before they begin the purchase process.

Search for Vendor – If they are going to buy through the tender process of through the bidding process, the news is released inviting bids from interested parties. If procurement is going to be done directly, then the procurer has to be in touch with multiple vendors and has to get quotations from them.

Place Order – Once the vendor is selected, the terms and conditions are agreed upon and an official order is given to the vendor for them to fulfill.

Delivery – The procurer is in charge of taking the delivery. They have to ensure that everything is on the order and the whole delivery goes smoothly They have to be present when all the raw materials are delivered.

Inspection – Once the goods are delivered, they have to inspect for quality and quantity. Only after the procurer finds everything is according to order, they will give the clearance for the good to be used for production.

So, if you are thinking of taking training for procurement professionals, make sure you know all about the profession you are getting into.