Procurement Manager Question:
Please explain the purchasing process step-by-step?
Answer:
Even in the most tactical procurement roles, a buyer should be able to visualize the purchasing process from beginning to end. Each of these nine steps of the tactical purchasing process should be known inside and out:
☛ Determining a need
☛ Communicating the need
☛ Reviewing the need
☛ Finding potential suppliers
☛ Conducting bidding and/or negotiation
☛ Selecting a supplier
☛ Formalizing the commitment
☛ Following up
☛ Closing out the transaction
☛ Determining a need
☛ Communicating the need
☛ Reviewing the need
☛ Finding potential suppliers
☛ Conducting bidding and/or negotiation
☛ Selecting a supplier
☛ Formalizing the commitment
☛ Following up
☛ Closing out the transaction
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