Smart Procurement Service
The Procurement cycle is the cyclical process of key steps when procuring goods or services.
Having a ‘Smart Procurement’ systematic process allows your company to be strategic when procuring goods and services from external vendors.
It helps you manage supplier relationships, determine which vendor to buy from to receive the lowest cost and best quality, determine what specifications and quantities are needed, streamline the shipping and delivery time frames and methods, review and accept the items purchased, approve payments, review supplier performance against contract, and identify and resolve performance issues. In short, having an effective management process can allow firms to increase efficiencies and cut costs when purchasing from vendors.
Understand need and develop a high level spec
Market/Commodity and options (incl. make or buy assessment)
Pre-procurement / market test and market engagement
Develop documentation, PPQ / combine with 1
Supplier selection to participate
in ITT / RFQ / negotiation
Bid/Tender Evaluation and validation
Contract award and implementation
Warehouse logistics and receipt
Contract performance review and continuous improvement
SRM and SC management
Asset management / end of life and lessons learnt
* PPQ : Pre purchase questionnaire / * ITT : Invitation to Tender / * RFQ : Request for Quotation/ * SRM : Supplier Relationship Management/ * SC: Supply Chain / * Gateway review: Stop, Think, Check