What is Procurement?
The act of obtaining or buyinggoods and services. The processincludespreparation and processing of a demand as well as the endreceipt and approval of payment. It often involves:
(1) Purchase Planning
(2) Standards Determination
(3) Specifications Development
(4) Supplier Research and Selection
(5) Walue Analysis
(7) Price Negotiation
(8) Making the Purchase
(9) Supply Contract Administration
(10) Inventory Control and Stores
(11) Disposals and other related functions.
Structon’s Philosophy on Procurement The process of procurement is often part of a company’s strategy because the ability to purchase certain materials will determine if operations will continue. A business will not be able to survive if it's price of procurement is more than the profit it makes on selling the actual product. Structon management will add value to your supply chain by exploring the world market to ensure quality and pricing are mutually acceptable.