A procurement law is a law that provides for legal oversight of purchasing transactions between the government and private...
The intention to be legally bound is a core component of any contract, and it requires that for a contract to exist and be enforceable by law, both parties must share this intention. This means that, unlike other, less formal promises, a promise in a contract is one that you have a ...
Services procurement focuses on procuring people-based services. Depending on the company, this may include hiring individual contractors, contingent labor, law firms or on-site security services. It may include both direct and indirect procurement. Types...
Procurement Target Funds government procurement Government procurement is a form of procurement. It is the behavior of government departments to purchase goods and labor they need with financial funds. It is basically the same as the principle of personal shopping in the market. It deals with fair ...
The Rule of Law is By Law and Not Men. The laws that are imposed on the society must be neutral in their nature and must be created for the betterment of the society and its protection. The law must be made for the sake of law, and not for the selfish requirements of any man. It...
The procurement function is often taken for granted – until something impedes it. Responsible for keeping a company’s wheels moving, procurement ensures that the right materials and supplies are on hand when needed. Operational in focus, procurement hasn’t typically been considered a strategic ...
Procurement vs. purchasing: A strategic distinction Although procurement and purchasing are often used interchangeably, there is a key distinction between the two. Procurement is a strategic process that involves planning, supplier selection, and contract negotiation, while purchasing refers to the transact...
Although it probably comes as no surprise, based on the level of education and experience required for the job, procurement directors are well paid. Most companies pay procurement directors at least $115,000 per year. It is not uncommon for someone in this position to make more than $150,00...
Purchasing is one aspect to procurement, which refers to the whole buying process for a company. While it includes the purchasing of goods, services, or materials, it also involves strategic planning. Here are some of the benefits of procurement: ...
Procurement is one of the most vital, transactional parts of conducting a business since the beginning of commerce. Though the days of scribes writing and checking the orders on papyrus scrolls, the basic activity involving the selection and purchase of goods and services needed for everyday functi...