Procurement is an essential strategic function that enables the organisation to improves its profitability’s through streaming business process, reducing material cost and identifying the most relevant resources of supply, both for private and public sector, procurement plays a crucial role in maximizing the value for money when commuting the certain expenditure. Deployment of effective procurement strategy relies significance on long-term supplier relationship. Contracting practice and constructive negotiation skills. All of the function as a bundle can determine overall organizational cost effectiveness and seamless operational process.
Cloud-based procurement tools
Spend Transparency
Supplier engagement
Optimized inventory
Contract Management
Reduction in waste.
Better use of resources.
Improved service delivery.
Improved supplier and client relationships.
Improved customer service.
More effective change management.
Increased innovation.
More informed decision making throughout the business and supply chain.
Better management of maintenance activities.
Fixed price contract
Cost reimburse contract
Time and materials
Federal Acquisition Regulation (FAR)
FAR 15.001 Definitions
FAR 15.1 Source Selection Processes and Techniques
FAR 15.202 Advisory Multi-Step Process
FAR 15.3 Source Selection
Negotiation skills and competences in procurement
Tips for contract negotiations
Understand the complexities of procurement and contract management
Setup and manage the procurement system effectively
Increase in personal confidence, satisfaction, and pride from direct involvement in purchasing and supply chain operations.
Determine ways to boost the efficiency of existing procurement practice
Use IT system to evaluate supplier performance
Work across various function to improve all aspect of procurement services to the customers
Apply constructive contracting practices and perform fruitful negotiations
Influence the organization effectiveness through decreasing operating costs and enhancing productivity.
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