Good Procurement Practices

It is always advised to procure goods or services from sources that are appropriate and can be procured to meet the terms like quality, cost, time, availability of goods, supply and location.

Though procuring goods or services looks complex, with the help of procedures, strategic planning and sourcing helps in making it easy when procuring goods or services for a company.

When the set procedures are simple it would be easy to follow and procure the best required goods for the benefit of the company.

Following certain steps makes it easy to procure the required goods or services

-       The purchase process should be kept simple rather than complex. Provide smart solutions to procure goods as per the requirement, timely receipt of goods, manage the suppliers by providing them with the comfort and assurance on the timely payments.

-       Create simple ways to measure your complex requirements and then turn it into a strategy that takes the complexity away.

-       Having a plethora of suppliers doesn’t help when the required goods are not available with them. To avoid such situations source appropriate suppliers as per the company’s requirements and base only on those suppliers to source the required goods.

-       Develop a successful procurement strategy with measurable objectives to ensure smooth procurement flow.

Just by following simple steps, a more efficient procurement process will yield better results.