Procurement Departments are created for the understanding and translation of customer needs and requirements to the selection of capable suppliers, to realize the cost-effective acquisition, receipt, and payment of vital inputs and raw materials. Factors impacting the Total Cost of Ownership such as quality, efficiencies, delays, stock-outs, obsolescence and carrying cost are heavily emphasized in the procurement discipline.
Procurement Personnel must master 3 critical functions:
1. Management of Spend
2. Supporting of Operations
3. Protection of the organization from Risk and Supply Disruption such as the likes of COVID-19
The Next Level Purchasing Body of Knowledge underpins, integrates and enhances the essential components of The Procurement Process in simple how to do steps. This cutting-edge BOK is designed by practitioners for practitioners.
Procurement Staff must effectively execute the following Process:
- Identifying Customer Requirements (Big Picture)
- Translating the Customer Requirements conduct the next step (Big Picture)
- Determining a need (Tactical)
- Communicating the need (Tactical)
- Reviewing the need (Tactical)
- Finding potential suppliers (Tactical)
- Conducting bidding and/or negotiation (Tactical)
- Selecting a supplier (Tactical)
- Formalizing the commitment (Tactical)
- Following up (Tactical)
- Closing out the transaction (Tactical)
NLPA Library: Looking for authoritative procurement templates, tools, webinars, and more? Stop trying to create resources from scratch and start taking advantage of having exactly what you need right at your fingertips in the NLPA Library.