A Procurement Handy Book

By R.V. Castle

This eBook is organized into 16 chapters, beginning with an introduction to procurement and then delving into specific topics such as sourcing, procurement strategy, category management, supplier selection, contract management, negotiation skills, supplier relationship management, ethics and sustainability, technology, and the future of procurement.

In addition to these core topics, the eBook includes a "This Versus That" section that provides clarifications on common procurement terms and concepts, as well as a "Get Deeper in Procurement" section that offers guidance on additional resources and learning opportunities. Includes a glossary of the most common used terms in the field.

This a valuable resource for procurement professionals looking to enhance their knowledge and skills in the field, as well as for anyone interested in learning more about the procurement process and its impact on organizational success.

• Language: English
• Publisher: R.V. Castle
• Release date: Jan 30, 2024
• ISBN: 9798223008859

Book preview

Summary

Struggling to get started in Procurement?

Having problems in relating some terms and concepts?

In Procurement Handy Book you will find a comprehensive guide to procurement that covers all aspects of the process, from sourcing to contract management to supplier relationship management.

This eBook is organized into 16 chapters, beginning with an introduction to procurement and then delving into specific topics such as sourcing, procurement strategy, category management, supplier selection, contract management, negotiation skills, supplier relationship management, ethics and sustainability, technology, and the future of procurement.

In addition to these core topics, the eBook includes a This Versus That section that provides clarifications on common procurement terms and concepts, as well as a Get Deeper in Procurement section that offers guidance on additional resources and learning opportunities. Includes a glossary of the most common used terms in the field.

This a valuable resource for procurement professionals looking to enhance their knowledge and skills in the field, as well as for anyone interested in learning more about the procurement process and its impact on organizational success.

Index

Chapter 1 - Introduction to Procurement

Chapter 2 - Sourcing

Chapter 3 - Procurement Process

Chapter 4 - Procurement Strategy

Chapter 5 - Category Management

Chapter 6 - Supplier Selection

Chapter 7 - Contract management

Chapter 8 - Negotiation Skills

Chapter 9 - Supplier Relationship Management

Chapter 10 - Ethics and Sustainability

Chapter 11 - Procurement Technology

Chapter 12 - Future of Procurement

Chapter 13 - This Versus That - Some clarifications

Chapter 14 - Get deeper in Procurement

Chapter 15 - Summary of Ideas

Chapter 16 - Procurement Brief Glossary

Chapter 1

Introduction to Procurement

Procurement is a complex and multifaceted function that requires a deep understanding of the organization's needs, the market in which it operates, and the suppliers with whom it does business. The procurement process is not a one-time event but a continuous and iterative process that involves various stakeholders and departments within the organization.

One of the primary objectives of procurement is to ensure that the organization has the right resources at the right time, cost-effectively. This involves not only identifying the need for a product or service but also assessing the market and the suppliers to determine the best source of supply. Procurement professionals must be knowledgeable about market trends, supplier capabilities, and pricing to make informed decisions about sourcing.

Another key objective of procurement is to mitigate risks that can negatively impact the organization's operations and reputation. This includes risks such as supply chain disruptions, quality issues, and price volatility. Procurement professionals must proactively manage these risks by building strong relationships with suppliers, developing contingency plans, and implementing effective contract management practices.

Procurement is not just about buying goods or services; it involves a complex process that requires collaboration and coordination across various departments within the organization. Procurement professionals must work closely with finance to ensure that procurement activities are aligned with the organization's budget and financial objectives. They must also work with legal to ensure that procurement contracts are legally binding and compliant with relevant laws and regulations.

Supplier selection is a critical aspect of procurement and involves evaluating suppliers based on various criteria such as price, quality, delivery time, and reliability. Procurement professionals