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Have you heard the term before?
Procurement in simple terms “obtaining services or goods you require in agreed terms.”
Think of a situation when you want to buy something that you use daily. Be it a headphone, a cell phone, etc.
If We standardize the buying process in simple terms,
Step -1 Need Generation
· You have a need for headphones.
Step 2 – Consider a List of Suppliers.
· You will list down available brands in the market based on your ability to spend and the quality you require.
Step 3 – Negotiate Contract Terms with Selected Supplier.
· You choose some of the brands from the list and compare those brands in terms of price, quality, and other services like warranty, etc. and finalize one brand.
Step 4 – Finalize the Purchase Order.
· You place on an order of a headphone which you finalize in all aspects.
Step 5 – Receive Invoice and Process Payment.
· An invoice is generated and you pay as agreed terms.
Step 6 – Delivery and Audit of the Order.
· After some time, you receive an order and you actually check your headphones.
All of us knowingly or unknowingly follow these steps.
“Organizational Procurement is a tight balancing act between “cost and quality” on one side and “time and compliance” on the other side.
It requires more detailing.
For simplification, we can use the mentioned example to understand the term Procurement and the process we use knowingly or unknowingly.
Do you want more simplified content on procurement?
Can you add your simplified thoughts?
Are you someone finding suppliers in India who can help you provide low-cost metal components in Europe, the United Kingdom, the United States of America (USA), and the UAE?
Do you want to procure metal components? If yes,
We can help you simplify your process of sourcing and buying metal components.
Share your requirements for all kinds of ferrous and non-ferrous metal components.
We can help you solve your need with the best possible cost and reliable quality.
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"Quality is the best business plan” - John Lasseter
Quality means you’ll be happy with what you’re selling, it means your customers will be happy with what they get and it also means you’ll have word-of-mouth recommendations.
Quality is not a consequence of following some set of behaviors.
Rather, it is a prerequisite and a mindset you must have before you decide what you are setting out to do.
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