Procurement activities can generally be categorized into two main types: direct and indirect procurement. Both play crucial roles in an organization’s operations, but they differ significantly in their purpose, processes, and impact on the business. Understanding these differences is key to developing ...
Procurement entails a range of activities and processes which helps in obtaining the essential products and services from the top suppliers, at the optimum price via tendering or competitive bidding. It may include all the means, methods and techniques employed to simplify the organization’s procure...
Often, organizations enter a tendering or competitive bidding process to help ensure they’re getting the best price while balancing factors such as quality, location and timing. Sustainable procurement differs in that its goal is for organizations to meet their product and service needs at the ...
Procurement is the process of acquiring goods or services, usually for business reasons. The goods or services are typically obtained from an external source and on a large scale, often through a competitive tendering or bidding process. The procurement process is intended to make sure that buyers...
Other key components in e-procurement include the following: e-sourcing: requirements definition and pre-qualifying potential suppliers; e-tendering: request for information, proposals and quotations; e-auctioning: evaluating suppliers, negotiation and contract management; ...
Tendering procedure. Selection criteria. Terms and conditions. How an invitation to tender (ITT) works. What is the benefit of an invitation to tender in public procurement? ITTs play a pivotal role in the public procurement of goods, services or works by government bodies or public sector org...
E-procurement is a process that has various components and operations. These elements determine the procurement’s ability to perform effectively. The following are the components: Components of eProcurement 1. Management of Indent It is the initial stage in the e-tendering, indent creation, or re...
Explore e-Procurement tools & technology for electronic procurement of goods & services. Learn about benefits & types of e-Procurement systems in this guide.
Commonly known as eTendering, eSourcing solutions offer a secure environment for procurement departments to both streamline and expand their process of buying. eSourcing solutions are used to identify the most suitable providers in the market, ultimately helping organisations to generate savings in time...
Tendering and procurement QS assists in the tendering and construction procurement processes by preparing critical documentation, soliciting and evaluating bids, and selecting and negotiating contracts with suppliers and contractors. The negotiation process is of utmost importance as the QS uses its negotiat...