importance of procurement process

Importance of Procurement in Manufacturing

Posted on by forceintellect
Importance of Procurement in Manufacturing
Importance of Procurement in Manufacturing What is the Importance of Procurement in Manufacturing Industry? What is Procurement in Manufacturing? Procurement refers to an organization's strategy to acquire goods and services for ensuring successful business operations. The procurement process ensures the right materials/products/services are obtained at the right price, from the right source/vendors, in the right quantity, meeting the right specifications, and delivered at the right time to the right users. What is the importance of Procurement in Manufacturing organization?  Companies in...
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9 steps of effective Procurement Process

Posted on by forceintellect
9 steps of effective Procurement Process
9 steps of effective Procurement Process The procurement process involves a series of activities undertaken to ensure the required materials are available at the right time in the right quantity. Procurement is a strategic business function which impacts the operations, supply chain, quality, cost and profits of most business organization. Hence it is crucial to have an effective Procurement Process. An effective procurement process involves understanding & consolidating the procurement needs of all departments/units of an organization, finding out suitable vendors, evaluating their te...
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