What is Procurement? | Procurement Process

In this video, I have explained: "What is Procurement?", and the Procurement process in a simplified way.
Difference between Procurement and Purchasing- • Procurement vs Purchas...
Procurement is usually a part of the input to a company that uses the purchased goods or services in the making of their own final product. This makes it a very vital function of any business.
The procurement process involves activities such as - identification of needs, sourcing, selection, negotiation, ordering, receiving, and payments.
Topics that I covered in this video are-
1. What is Procurement? / what is procurement mean?
2. What is procurement process?
3. Steps involved in a procurement process
Steps are- 1. Identification of Requirement
2. Determination of the Specifics of the Requirement
3. Sourcing
4. Negotiation and Finalization of Price and Terms
5. Purchase Requisition and Order
6. Delivery of the Purchase Order
7. Expediting
8. Receive And Inspection
9. Payment Process
10. Record Keeping And Review
4. What’s the difference between direct procurement, indirect procurement, and services procurement?
5. procurement meaning, definition, types
Read in details or download pdf- educationleaves.com/what-is-p...
Follow me -
Instagram - / sukanta_mac
My website - educationleaves.com
Like, share the video and Please subscribe to my channel.
#procurement #procurementprocess #industrialengineering

Пікірлер: 127

  • @user-uf5sc6ff2q
    @user-uf5sc6ff2q6 ай бұрын

    So simple and straight to the point. this video is perfect

  • @gouprith1
    @gouprith13 жыл бұрын

    Found the Best Explanation on Procurement. After checking few Videos. 🙏🏻

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    Thanks man 👍

  • @Lerato_procurement_genius

    @Lerato_procurement_genius

    2 жыл бұрын

    Interesting

  • @RWarrior777

    @RWarrior777

    2 жыл бұрын

    @@Educationleaves hi there, liked the video. I am interested in learning procurement. Where can I begin? Thanks

  • @michaelg1915
    @michaelg19152 жыл бұрын

    Good. Video but the computer generated voice makes this difficult to listen to.

  • @michaelstaylor6312
    @michaelstaylor63124 ай бұрын

    I love this tutorial video... Straight to the point ✊.... Thanks!

  • @rosygautam7895
    @rosygautam7895 Жыл бұрын

    Must say really really helpful to understand the concept. thank you so much for sharing the details! really appreciated!

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    Glad it helped!

  • @ShiferawAbrahaSIBHAT
    @ShiferawAbrahaSIBHAT3 ай бұрын

    Thanks for clarification on procurement!!

  • @supplychainlogisticstv
    @supplychainlogisticstv8 ай бұрын

    Hi, I like the video on procurement. It is a good subject to discuss and study.

  • @RumbidzaiShingai-se6ro
    @RumbidzaiShingai-se6ro Жыл бұрын

    Wowwwww i understood thank you ,it was just clear and straight forward

  • @alimajid4860
    @alimajid486022 күн бұрын

    Thank you very much, very clear and to the point. 1 year long course then graduate confused and tell you , you have to get experience 🤣

  • @maryroxelleexconde7883
    @maryroxelleexconde78832 жыл бұрын

    Thank you this is very useful and knowledgeable.

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Ur welcome!

  • @NadaAAbbas
    @NadaAAbbas5 ай бұрын

    Very helpful video, Keep on doing these beneficial videos with that clear and simple explanation.

  • @Educationleaves

    @Educationleaves

    5 ай бұрын

    Thanks!

  • @bspamericas7883
    @bspamericas788310 ай бұрын

    Great video! Will share it with our future clients.

  • @kmacklmp1
    @kmacklmp12 жыл бұрын

    Great Video , straight to the point and very informational

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thank you!

  • @Bookersbones

    @Bookersbones

    Жыл бұрын

    Bot

  • @Dr.M687
    @Dr.M687 Жыл бұрын

    Thank you, very helpful.

  • @saikatmajumdar7096
    @saikatmajumdar7096 Жыл бұрын

    Very useful and well explained .

  • @sanjeebroytonmoy686
    @sanjeebroytonmoy6863 жыл бұрын

    Thank you so much, for this useful video.

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    Most welcome

  • @rengankrishnaiyer6912
    @rengankrishnaiyer6912 Жыл бұрын

    Great simple to understand video

  • @pamelaesidneymarchifreitas6532
    @pamelaesidneymarchifreitas6532 Жыл бұрын

    This video showed us golden information

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    Thank you!

  • @namakulajennifermrs.bulega2941
    @namakulajennifermrs.bulega2941 Жыл бұрын

    Very very useful thank you so much for sharing

  • @ramyashreeudayan4805
    @ramyashreeudayan48053 жыл бұрын

    Very useful 🔥💯😎....Thank you 💯🔥💯

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    Most welcome ❤

  • @sannitigokul6484
    @sannitigokul64842 жыл бұрын

    Exlent program for me thank you so much

  • @ARVINDKUMAR-xs3zn
    @ARVINDKUMAR-xs3zn2 жыл бұрын

    Really Good explained and cover lots of things. 👍👍

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thanks!

  • @lonerangerr007
    @lonerangerr0073 жыл бұрын

    Thank u looks good and very informative

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    Most welcome

  • @Gi-FM
    @Gi-FM4 ай бұрын

    **Procurement**: - Focus: Procurement is a broader process that encompasses purchasing but extends beyond it. It involves strategic planning, sourcing, negotiating, and managing relationships with suppliers. - Scope: Procurement involves analyzing the organization's needs, identifying potential suppliers, evaluating contracts, and ensuring alignment with organizational goals. - Goal: The primary goal of procurement is to optimize the entire supply chain to achieve long-term value, mitigate risks, and support organizational objectives. In simple terms, purchasing is like going to the store to buy groceries, while procurement is like planning the entire shopping list, finding the best stores to buy from, negotiating deals, and making sure you have everything you need to cook a great meal.

  • @alicesekyi8508
    @alicesekyi85082 жыл бұрын

    Am studying Procurement and Supply in the tertiary its a fine courses

  • @musicinfinity255
    @musicinfinity25511 күн бұрын

    Thanks for information

  • @jefferytwumasi
    @jefferytwumasi2 жыл бұрын

    Thank you, very helpful

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    You are welcome!

  • @alphaconteh5543
    @alphaconteh55432 жыл бұрын

    Very helpful. Thanks

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Ur welcome!

  • @halimaessaadiasahraoui2458
    @halimaessaadiasahraoui24583 жыл бұрын

    thank you a lot it's very useful

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    Ur welcome!!

  • @noname-bk6lv
    @noname-bk6lv Жыл бұрын

    Great Video, easy to understand

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    Thank you!

  • @natashadavina7592
    @natashadavina75922 жыл бұрын

    great content this will be very useful for my interview

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thanks!!

  • @ReactionYoutubeShort

    @ReactionYoutubeShort

    2 жыл бұрын

    hi, how was your interview? I am interested in this field and I have had an interview in purchasing this morning..BTW I would like to make friends with people who is working in this field and you are all welcome...please feel free to text me

  • @mohamedqadar8858
    @mohamedqadar88582 жыл бұрын

    very very helpfully, Thanks Alot

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    You are welcome!

  • @SinnehKamarah-xi8dj
    @SinnehKamarah-xi8dj Жыл бұрын

    Great video

  • @rizkiaadinda1019
    @rizkiaadinda10192 жыл бұрын

    thanks, it's really helpful

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    You are welcome 🙏

  • @dabbuish
    @dabbuish Жыл бұрын

    Thanks! it was helpful.

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    Glad it helped!

  • @MadaraUchiha-vc4cf
    @MadaraUchiha-vc4cf Жыл бұрын

    danko! it means thank you

  • @sharukhmohdd658
    @sharukhmohdd658 Жыл бұрын

    Thank u sir India

  • @MuuseSiyaar
    @MuuseSiyaar25 күн бұрын

    very good thnks

  • @nishantazad8285
    @nishantazad82852 жыл бұрын

    Very nice easy to understand

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thanks❤️

  • @parshyalg1135
    @parshyalg11352 жыл бұрын

    Wow nice explaining...i like ur videos

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thank you so much!

  • @Akothamadi
    @Akothamadi Жыл бұрын

    thanks for sharing

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    My pleasure

  • @gaston.
    @gaston.2 жыл бұрын

    robotic... but overall good job.. thanks for sharing

  • @BuckowFburnin
    @BuckowFburnin Жыл бұрын

    thanks, it's really helpful

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    You are welcome!

  • @Ashrayskumar
    @Ashrayskumar3 жыл бұрын

    GOOD INFO

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    Thank you!!

  • @MdRizwan-kq1up
    @MdRizwan-kq1up2 жыл бұрын

    very useful

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thank you!!

  • @lawrencejuma3552
    @lawrencejuma35523 жыл бұрын

    This is useful

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    Thanks

  • @khawarsatti1403
    @khawarsatti1403 Жыл бұрын

    Which software you use for video making and sound

  • @safarkt9626
    @safarkt96262 жыл бұрын

    Its really useful video.. Sir, can you explain "What is Procurement’s contribution to successful execution of Lump Sum project so that it is completed within agreed schedule and budget?"

  • @catherineonyeanu8154

    @catherineonyeanu8154

    Жыл бұрын

    If i may, Procurement is key to the delivery of projects. A lumpsum project here is a project in which the contractor is paid fully for all aspects of the project including the procurement. Some projects are called EPC (Engineering, procurement, and commissioning). Hence, the contractor manages the procurements for the project as part of the contract. This implies that the impact of procurement on the delivery of the project is key. A major scope managed in this that poses a big threat is the management of long lead items (LLI)which are items required at a certain time of the project but there procurement will take a very long time. For example are specially custom parts which may be manufactured abroad. The time and risks involved in this singular item can greatly delay the completion of the project, therefore such items are manages separately and their procurement is started long before it is needed, in other to make sure it arrives in time. When such items are mismanaged or experience delays in delivery, they can have huge schedule and budget impacts on the project. I hope I was able to throw some light. Question is old, but it at least got an answer for readers. Thank you.

  • @anuragkarri201
    @anuragkarri2019 ай бұрын

    Hi sir, is there anyone providing procurement quality training courses in India?

  • @TemesgenGuye
    @TemesgenGuye Жыл бұрын

    Nice learning

  • @ojaspurohit5852
    @ojaspurohit58527 ай бұрын

    Anyone engineer here from Procurement?

  • @turnocent_Bhardwaj

    @turnocent_Bhardwaj

    2 ай бұрын

    Logistics

  • @-EIE-HarshMishra-qn3ix

    @-EIE-HarshMishra-qn3ix

    15 күн бұрын

    ​@@turnocent_Bhardwajare you from which branch

  • @elizabethakanjogyue9856
    @elizabethakanjogyue98562 жыл бұрын

    Very nice video

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thanks!

  • @sannitigokul6484
    @sannitigokul64842 жыл бұрын

    This is very help full forme

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thank you!

  • @abdullahibashirdahir7851
    @abdullahibashirdahir78512 жыл бұрын

    thanks this will help for all beginner levels

  • @sannitigokul6484
    @sannitigokul64842 жыл бұрын

    Please make video visual merchandising

  • @abhishekds1328
    @abhishekds1328 Жыл бұрын

    Sir am not able to find PDF download option

  • @MaybejustNarbe
    @MaybejustNarbe Жыл бұрын

    AWESOME

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    Thank you!

  • @aparnas9786
    @aparnas97862 жыл бұрын

    Does making process of supply chain mgt includes procurement?

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Yeah it’s part of supply chain...check out my video on order management and supply chain management.

  • @MdRizwan-kq1up
    @MdRizwan-kq1up2 жыл бұрын

    good

  • @AnnieLoulou
    @AnnieLoulou2 ай бұрын

    @Educationleaves how can I have the PPT with the visuals

  • @kagamitaiga9167
    @kagamitaiga91672 жыл бұрын

    Noiceee

  • @IINGHII
    @IINGHII Жыл бұрын

    Make the speed 1.25x and enjoy

  • @bijoykhan6286
    @bijoykhan6286 Жыл бұрын

    Tnkx

  • @Educationleaves

    @Educationleaves

    Жыл бұрын

    Welcome

  • @mellosuccess7134
    @mellosuccess71342 жыл бұрын

    Was of benefit to me

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Glad to know that 😊

  • @user-lb4qu4zy3y
    @user-lb4qu4zy3y4 ай бұрын

    simple

  • @Im_Luna4216
    @Im_Luna42162 жыл бұрын

    can i ask? first what is the meaning of average procurement performance? and leading procurement performance? what attribute differences between average and leading procurement performance?

  • @gagankumara6003

    @gagankumara6003

    2 жыл бұрын

    ich liebe dich

  • @gagankumara6003

    @gagankumara6003

    2 жыл бұрын

    Guess what I typed

  • @noname-bk6lv

    @noname-bk6lv

    Жыл бұрын

    @@gagankumara6003 W for effort

  • @rustyt.pasawa2948
    @rustyt.pasawa29482 жыл бұрын

    nice

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    Thanks!

  • @sannitigokul6484
    @sannitigokul64842 жыл бұрын

    Please make videos Up selling Down selling Cross selling

  • @nikhilbonde2500
    @nikhilbonde25003 жыл бұрын

    Where is the pdf link?

  • @Educationleaves

    @Educationleaves

    3 жыл бұрын

    check now...and thanks for reminding me.

  • @salimmuhammadbukhit9462

    @salimmuhammadbukhit9462

    2 жыл бұрын

    @@Educationleaves help with pdf plz if not mind

  • @Educationleaves

    @Educationleaves

    2 жыл бұрын

    @@salimmuhammadbukhit9462 Go through the pdf link in the description.

  • @shanky5089
    @shanky5089 Жыл бұрын

    Sir aap aapna voice dalte to Jayda aacha hota 👍

  • @user-vc8of1be1n
    @user-vc8of1be1n4 ай бұрын

    Я НАДЕЮСЬ , ЧТО РЕБЯТА ИЗ РАНХИГСА ВИДЯТ ЭТОТ КОМЕНТ , ГОТОВЬТЕСЬ, ТАМ 18 СЛОВ))))))))

  • @basilnaidoo2917
    @basilnaidoo2917 Жыл бұрын

    Wheresthe pdf?

  • @konasiva1760
    @konasiva17602 жыл бұрын

    I need job in this field any one help me ..

  • @faithmwende7583

    @faithmwende7583

    2 жыл бұрын

    Same here

  • @kintero27
    @kintero27 Жыл бұрын

    The robot voice is horrible. Please change it.

  • @9247398949
    @9247398949 Жыл бұрын

    good video

  • @BuckowFburnin
    @BuckowFburnin Жыл бұрын

    Make the speed 1.25x and enjoy

  • @BuckowFburnin
    @BuckowFburnin Жыл бұрын

    Where is the pdf link?