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When we start implementing a new procurement system (in truth, everything written here is true regarding the implementation of most organizational systems), we are faced with the dilemma – should we change the entire organizational procurement procedure so that it aligns with the system’s guidelines? Alternatively, should we continue the existing situation and, at the same time, start working gradually with the new procurement system?

In public sector organizations, the procurement process is generally similar to the process in private sector organizations – but with some crucial differences. Because the people handling public funds must naturally follow strict principles during the procurement process, these principles can be considered an ethical code of conduct requiring public employees to be responsible for their purchases. Some of the principles may also be useful for organizations in the private sector…

Procurement is essential to running a business and has always been so. The process of selecting the products and purchasing them while ensuring the quality of the goods and services necessary for the current business activity remains as crucial as ever. Proper procurement management allows the company to receive the required supplies at the lowest cost reliably…

Procurement, purchasing, sourcing, and supply chain are often used interchangeably. However, there are essential differences between them.

Procurement vs. Purchase: If procurement involves the purchase

The nine main stages of the procurement process can be thought of in three separate stages: exploration, purchase, and acceptance.

Three key elements work together to make the procurement process happen: people, process, and paperwork.

In this list we will specify the possible steps in the organizational procurement process​
Upon meeting with a financial manager, I often encounter the usual apology “sorry for the mess, it’s a stressful time right now”…

In many companies, procurement and finance teams operate as separate departments. Historically, they have sometimes been at odds for one key reason…

Procurement processes vary greatly depending on the structure and needs of each company but generally include the following nine core stages…

By tracking procurement metrics, businesses can increase the efficiency of their procurement process, track progress toward business goals, and identify areas for improvement. Below are some commonly measured procurement metrics…

Spend Management Software is a system for purchasing goods or services combined with financial control in businesses and companies…

As in almost every other area of business, technology can increase the productivity of procurement groups while reducing process costs by up to…

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