Procurement Management

Procurement management is a strategic approach to optimizing organizational spend. It invoices sourcing, requisitioning, ordering, inspection, and reconciliation. It means acquiring your goods and services from preferred vendors, within your determined budget, scope, quality either on or before the deadline.

– Preparing Procurement Plan
– Gathering supplier & sub-contractor offers according to Project requirements
– Setting up suppliers & sub-contractors selection criteria and selecting the
suppliers & subcontractors according to selection criteria. (which may include
such measures as delivery service quality, cost, technical & commercial capacity,
time and so on.)
– Negotiating and contracting with the supplier & sub-contractor. Communicate
with the suppliers on delivery dates and payment conditions in order to ensure
“on-time” delivery of the ordered items within the stated project budget.
– Ensuring each condition is recorded and a detailed delivery plan is prepared
with the supplier.
– Regularly controlling the delivery and payment processes. Through arranging
regular meetings with the vendors, tracking delivery progress, reviewing the
ordered items against the approved product specifications, and making necessary changes to the procurement contract, the department can control the
process and ensure successful accomplishment.
– using a system of performance indicators and measures for assessing the effectiveness and success of the entire process.
– Be in communication with the project management team and other stakeholders
throughout the entire process to get maximum efficiency for the project.