Procurement Principles (Supply Chain Basics)

In this video, we are learning the principles of procurement,
This is part of our supply chain basics in procurement from our learning logistics series where we discuss the basic Supply Chain and Logistics concepts.
So far, we have covered "what is procurement" "what are the steps in procurement" and "what is the difference between procurement and purchasing"
If you want to look at those corresponding videos, they are linked below:
• What is Procurement? (...
• 9 Steps in Procurement...
• Procurement vs Purchas...
If you are interested in learning more about logistics and supply chain, and want to become even more knowledgeable and learn from the experts, CHECK OUT OUR COURSES: www.mvclogisticsacademy.com
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KEYWORDS: What is procurement, procurement, supply chain design, logistics videos, youtube videos about logistics, videos about supply chain, Learning Logistics show, logistics education and training, MVC Logistics Academy KZread channel, MarvikCo Logistics LLC.

Пікірлер: 35

  • @talowanaag6649
    @talowanaag6649 Жыл бұрын

    These principles are very important and procurement staff should follow those principles when they dealing procurement activities.

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    Yes, I agree. I think having standardized S&OPs that include these as a basic guideline could benefit any department.

  • @kourtneyalbert2937
    @kourtneyalbert29372 жыл бұрын

    This video was informative and helpful. I now have a clear understanding between procurement and finance within a organization. Thanks again 👍

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    2 жыл бұрын

    Thank you so much! So glad you enjoyed it and learned more about procurement!

  • @bfinch1980

    @bfinch1980

    Жыл бұрын

    ​@@MVCLogisticsAcademy yes! Definitely helped me!

  • @odongsolomon9304
    @odongsolomon9304 Жыл бұрын

    The document was really clear and precise. Now i understand the principle best. Thank you

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    You are very welcome, I am glad you found it useful!

  • @supplychainlogisticstv
    @supplychainlogisticstv Жыл бұрын

    Thanks for the talk on supply chain management , procurement and finance related issues.

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    My pleasure! I am glad you are enjoying it.

  • @bfinch1980
    @bfinch1980 Жыл бұрын

    Great Information! Thank you!

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    So glad you are enjoying the content, thank you for watching 🙂

  • @saeedbasabain4188
    @saeedbasabain4188 Жыл бұрын

    Thanks

  • @ricch_sub
    @ricch_sub Жыл бұрын

    Allow me to ask, is there any order here for the principles of procurement?

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    Hello, thank you for commenting. I would say there is no particular order, but rather there will a flow to the procurement principles based on the way your team/department works internally and externally.

  • @nurasulaiman1825
    @nurasulaiman18255 ай бұрын

    Great prof.

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    4 ай бұрын

    Thank you so much! 🌟 Your kind words mean a lot to me and the entire team. We're thrilled to hear that you enjoyed the content🚀💡

  • @verorod4852
    @verorod48522 жыл бұрын

    Helpful thanks

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    2 жыл бұрын

    Glad it helped

  • @hollymiller5521
    @hollymiller5521 Жыл бұрын

    I am new to my position at a young company that offers something exclusive that I feel would be helpful to ANY industry that uses office chairs. How do I find procurement companies to get our information to?

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    Since you are a young company, I would go with a social media strategy that highlights the useful features of your products in a fun manner that would target the viral trends out there. This would be cost effective if your budget is limited, and has the potential to access a large audience if done right.

  • @welcome3419
    @welcome34192 жыл бұрын

    please talk about marketing logistics

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    2 жыл бұрын

    Thank you for the suggestion, we'll work on a video on it for you!

  • @hikmatshahsaeedi937
    @hikmatshahsaeedi937 Жыл бұрын

    Thank you it is so useful for me could you please send me the book about procurement and logistic

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    Procurement, Principles, and Management (11th Edition) Author: Peter Bailey, David Farmer, Barry Crocker, David Jesson, and David Jones

  • @user-zf6of6zp8n
    @user-zf6of6zp8n10 ай бұрын

    Could you plz more explain the Fairness, transparency, and integrity?

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    10 ай бұрын

    Of course! 🌟 I'd be delighted to provide more insight into the principles of fairness, transparency, and integrity in procurement. Fairness: In procurement, fairness means ensuring that all suppliers and bidders are treated equitably and have an equal opportunity to compete. It's about creating a level playing field where no one has an advantage over others. Fairness is achieved through open competition, unbiased evaluation processes, and clear criteria for selecting suppliers. It's essential to prevent favoritism or discrimination and to build trust among all stakeholders. Transparency: Transparency is the cornerstone of a sound procurement process. It means that all actions, decisions, and transactions are visible and can be easily understood by relevant parties. Transparent procurement processes involve clear documentation, open communication, and disclosure of information to suppliers and the public when necessary. Transparency fosters trust, accountability, and confidence in the procurement process. Integrity: Integrity is about maintaining the highest ethical standards throughout the procurement process. It means acting honestly, ethically, and without conflicts of interest. Procurement professionals should adhere to codes of conduct and ethics, avoid bribery or corruption, and make decisions solely based on the best interests of the organization. Integrity ensures that the procurement process is conducted with credibility and trustworthiness. I hope this clarifies these principles for you! If you have any more questions or need further explanations, feel free to ask. Your curiosity and engagement in our content are greatly appreciated! 📚🌐

  • @user-zf6of6zp8n

    @user-zf6of6zp8n

    10 ай бұрын

    Thank you so much for the broad explanation@@MVCLogisticsAcademy

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    9 ай бұрын

    You're very welcome! 😊 I'm thrilled to hear that our explanation was helpful to you. If you have any more questions or if there's anything specific you'd like to learn about, feel free to ask. We're here to help you on your learning journey! 🌟✨

  • @welcome3419
    @welcome34192 жыл бұрын

    good Morning very very good

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    2 жыл бұрын

    Good morning, thank you so much! 😀

  • @inderkumar2252
    @inderkumar2252 Жыл бұрын

    hello ma'am , i do not understand ur fast english but look this video only to see you becoz you are so cute☺ and charming

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    Hello there, thank you for your kind comment. I have tried to speak more clearly in more recent videos, so I hope you can better understand those. I also add captions to all the videos, so it might help to turn those on.

  • @talowanaag6649
    @talowanaag6649 Жыл бұрын

    Raise your voice, professor

  • @MVCLogisticsAcademy

    @MVCLogisticsAcademy

    Жыл бұрын

    I will try to get better audio equipment. thank you for the suggestion.

  • @talowanaag6649

    @talowanaag6649

    Жыл бұрын

    Thanks