How the 13 STAGES OF PROCUREMENT CYCLE really work
Here is a complete guide to COMMERCIAL CONTRACTING: bit.ly/3TgpJDY
You are not going to be any good in procurement if you don’t understand the procurement cycle, especially since the procurement cycle is at the heart of purchasing, sourcing and supply.
Ok, real quick, WHAT IS PROCUREMENT?
Procurement is the strategic business function that identifies, sources, accesses and manages the external resources that an organization needs to successfully fulfil its objectives
So the cyclic nature of procurement has the following stages…basically this is what the procurement cycle looks like
Learn about Managing contractual risks here: bit.ly/3IojJnm
Time stamp
00:00 Intro
1:53 STAGE 1: Understand needs and develop a high-level specification
3:19 About SPECIFICATIONS
5:54 STAGE 2: Market / Commodity options
6:49 About Porter’s Five forces
8:01 About CARTER’S OUTSOURCE MATRIX
9:29 STAGE 3: develop strategy / Plan
9:57 About STEEPLE and SWOT analysis
10:58 STAGE 4: Pre-procurement market tests and market engagement
13:27 STAGE 5: Development of documentation
16:27 STAGE 7: Issue invitation to tender / request for quotation
17:17 STAGE 8: Bid/ Tender / quotation evaluation and validation
18:39 STAGE 9: contract award and implementation
19:20 STAGE 10: Warehouse logistics and receipt
19:50 STAGE 11: Contract performance review and continuous improvement
20:53 STAGE 12: supplier relationship / contract management
21:30 STAGE 13: Asset management/ end of life
#Procurement #CIPS #SupplyChain #supplychainstrategy
Пікірлер: 34
Hello, checkout more video lessons, PDF downloads and practice exercises here. CIPS L4M5: Commercial negotiations bit.ly/3uQxv0i CIPS L4M3: Commercial Contracting: bit.ly/3TgpJDY CIPS L5M3: Managing contract risks: bit.ly/3IojJnm More links in the video description Cheers!
Well executed and informative video. Thank you
Awesone, gave me everything I needed to know
Thank you so much. this is easy to understand.
Good job! I have learnt alot. Thank you.
Wooow Mr Moses great job. God bless u. This is the best tuition on procurement I have seen so far. U are such a great guy. I like how u blend procurement with strategic models. Looking forward to more videos.
@ZeriteNetwork
Жыл бұрын
Thanks...more videos are on the way
Thank you for this video. It's very explanatory.
Thank you so much brotherman.
Well elaborated
You make it seem so simple. Thank you
@ZeriteNetwork
Жыл бұрын
Am glad to be of help. There is no point in complicating these things.
Thank you very much for this wonderful training !
@ZeriteNetwork
8 ай бұрын
Thanks for the comment. am happy you find it helpful
Very interesting lesson
@ZeriteNetwork
29 күн бұрын
Glad you enjoyed it
thank you so much moses for this study you have been so helpful to me sir.
@ZeriteNetwork
11 ай бұрын
Am glad to be of service
Thank you Mr. Moses very insightful & educative am a procurement officer by training & am really benefiting from these videos
@ZeriteNetwork
8 ай бұрын
Thanks alot for the comment...more videos are on the way
Excellent video thank you
@ZeriteNetwork
4 ай бұрын
Thanks for the comment, am glad you found the video helpful.
How internal and external stakeholders influence procurement and supply activity
Mwalimu you have taught.Thank you so much.true Teacher
@ZeriteNetwork
Жыл бұрын
thanks alot
like your content.
Learning
Nice teaching u make understand Am from Sierra Leone ❤
@ZeriteNetwork
11 ай бұрын
am glad you understood.
Nice explained procurement cycle. ✌️ Kindly share your knowledge regarding MRP : Material Resource Planning strategies. There are lots of 'C's for evaluating suppliers but what are the most important factors other than material price ?
@ZeriteNetwork
6 ай бұрын
am assuming you are talking about Ray Carter's 10 Cs..its ok I will work on something about that as well as MRP
Hi, i just got a procurement job with a real estate and construction company and I will be resuming in 14 day. I have no experience but I have an idea i have and I have been told i will start with all materials. This position is a new position in the company and i really want to give it a structure and make it work . What is your advice?
@ZeriteNetwork
11 ай бұрын
First of all, congrats on the new position! Since I haven’t seen your job description, when you say “material” I am going to assume you mean “inventory” and that means you will have to start with inventory management since in a construction company this is a big deal. So, upgrade your skills on inventory management as well as how they will be procured without running the accounts dry or incurring unnecessary costs. As time goes by your position will become clear…its all about “learning by doing for” for you. Cheers!
@ogarjosephodama1878
11 ай бұрын
@ZeriteNetwork Thanks, I will let you know when I get my offer letter