What is Procurement ? | Procurement Process | The Procurement Cycle

Suggested Books :

1. Supply Chain And Operations Management

a.) Supply Chain Management: Strategy, Planning, and Operation, 7th Revised Edition by Pearson :
https://amzn.to/4b5OZom ...(Amazon)
b.) Logistics and Supply Chain Management :
https://amzn.to/4bU2Mjh ...(Amazon)
c.) Essentials of Supply Chain Management :
https://amzn.to/3xfco8X ...(Amazon)
d.) Operations and Supply Chain Management
https://amzn.to/4cjbUh6 ...(Amazon)
e.) Manufacturing Planning and Control for Supply Chain Management :
https://amzn.to/4bgmepj ...(Amazon)

2. Logistics Management

a.) Logistics Management and Strategy: Competing through the Supply Chain :
https://amzn.to/3KEiNgW ...(Amazon)
b.) Supply Chain Logistics Management :
https://amzn.to/45kyB1W ...(Amazon)

3. Procurement

a.) Purchasing and Supply Chain Management, 7e by ZZ_Books Wagon :
https://amzn.to/3yZv2SP ...(Amazon)
b.) Purchasing and Supply Chain Management, by Arjan van Weele :
https://amzn.to/4cizwSR ...(Amazon)

4. Inventory

a.) Introduction to Materials Management :
https://amzn.to/3KHCl46 ...(Amazon)

5. Case Study

a.) Designing And Managing the Supply Chain : Concepts, Strategies and Case studies :
https://amzn.to/4bXPv9l ...(Amazon)

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Welcome to the new video of 10 Min of Supply Chain:

In this video, we delve into the intricacies of procurement in the supply chain, exploring the procurement process and cycle to gain a comprehensive understanding of its significance in modern business operations.

Understanding Procurement in the Supply Chain:
Procurement is the strategic process of acquiring goods, services, or works from external sources to fulfil organisational needs. Learn how procurement plays a pivotal role in supply chain management, driving efficiency, reducing costs, and ensuring timely acquisition of resources.

Exploring the Procurement Process:
Join us as we break down the procurement process into key stages, including needs identification, supplier selection, request for proposal, negotiation, purchase order issuance, goods receipt, invoice verification, and supplier performance evaluation. Gain insights into each stage's importance and best practices for successful procurement execution.

Unveiling the Procurement Cycle:
Discover the recurring series of activities involved in the procurement cycle, from planning and supplier identification to contract negotiation, order processing, invoice verification, and contract renewal. Explore how the procurement cycle ensures ongoing supply chain efficiency and effectiveness through continuous improvement and supplier collaboration.


#Procurement #SupplyChain #Logistics #BusinessOperations #ProcurementProcess #ProcurementCycle #SupplyChainManagement #BusinessStrategy #ProcurementExcellence #ContinuousImprovement #SupplierCollaboration #EducationalContent #YouTubeTutorial #SupplyChainInsights
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