What is Procurement Procurement Process

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In this video, I have explained: What is Procurement? , and the Procurement process in a simplified way. • Difference between Procurement and Purchasing- • Procurement vs Purchasing | Differenc... • Procurement is usually a part of the input to a company that uses the purchased goods or services in the making of their own final product. This makes it a very vital function of any business. • The procurement process involves activities such as - identification of needs, sourcing, selection, negotiation, ordering, receiving, and payments. • Topics that I covered in this video are- • 1. What is Procurement? / what is procurement mean? • 2. What is procurement process? • 3. Steps involved in a procurement process • Steps are- 1. Identification of Requirement • 2. Determination of the Specifics of the Requirement • 3. Sourcing • 4. Negotiation and Finalization of Price and Terms • 5. Purchase Requisition and Order • 6. Delivery of the Purchase Order • 7. Expediting • 8. Receive And Inspection • 9. Payment Process • 10. Record Keeping And Review • • 4. What’s the difference between direct procurement, indirect procurement, and services procurement? • 5. procurement meaning, definition, types • Read in details or download pdf- https://educationleaves.com/what-is-p... • Follow me - • Instagram - / sukanta_mac • My website - https://educationleaves.com • Like, share the video and Please subscribe to my channel. • #procurement #procurementprocess #industrialengineering

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