and Brain Farrington‚ procurement and supply chain management‚ procurement is the acquisition of goods and services in return for a monetary or equivalent payment. Procurement however‚ is the process of obtaining goods and services.(http://en.wikipedia.org/wiki) Emerging issues are issues that are coming up to improve on the purchasing process. The following are some of the issues‚ Out sourcing‚ E procurement‚ Group/consortium purchasing ‚ purchasing card and Green procurement/purchasing. Out sourcing
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TYPES OF PROCUREMENT CONTRACTS 1.0 INTRODUCTION Sollish et al (2011) states that the decision over what contract type to use is one of the most important strategic decisions; because the type of contract has an influence on how the contractor is paid and the risk allocation between the contracting parties. In making such a decision the goal should be to get the optimum project objective attainment likelihood. 2.0 CONTRACT TYPES According to Sollish et al (2011)‚ there are two major types
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Project procurement management Project procurement management: Project procurement management includes the processes necessary to purchase or acquire products‚ services or results needed from outside the project team. The organization can be either the buyer or seller of the products‚ services or result of a project. Procurement means acquiring goods and services from an outside source. The term procurement is widely used
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Preface The Importance of Procurement in a Global Environment Until recently‚ procurement was a necessary process in an organization‚ but did not receive much attention from the management. Now times have changed: These days‚ procurement departments in an entity are playing pivotal roles in the success of firms nevertheless it is a public body or a private body. In this special report‚ it is discuss why the procurement function has risen to such prominence in this highly competitive global environment
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Introduction to Procurement Introduction to Procurement Quiz # 1 True/False (1 mark per question) 1. Competition today is no longer between firms; it is between the supply chains of those firms. True False 2. There is a definitive and prescriptive set of supply chain measures that applies to all supply chains. True False 3. The knowledge and skills demanded of today’s supply professional is the same as before. True False 4. The key to the success of any company is the quality of its employees
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TRENDS IN PROCURENENT AND SUPPLY CHAIN MANAGEMENT 1. Introduction Procurement and Supply Chain Management (PSCM) presents the new paradigm in strategic and operational business management for the 21stcentury. By offering a cooperative and integrated model of the value-creation process in a cross-organizational perspective‚ it also places new challenges on business management methods and instruments used‚ in theory as in practice. In the field of materials management‚ the new PSCM perspective
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Mondavi Procurement Management Procurement is the complete process or action of acquiring or obtaining material‚ property‚ or services at the operational level‚ such as purchasing‚ contracting‚ and negotiating directly with the source of supply. Procuring goods and services is a larger process than just the label price of wine; the process to buy those items includes major organizational costs‚ often accounting for half of the product price. When allowing for the vast number of purchases Mondavi
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“CONTRACT & PROCUREMENT MANAGEMENT AT NTPC” SUBMITTED BY: **************** INDUSTRY GUIDE **************** FACULTY GUIDE **************** TABLE OF CONTENTS Chapter No. Subject Executive Summary…………………. Research Methodology……………… Primary Objective(s)…………. Hypothesis…………………… Research Design……………… Sample Design……………….. Scope of the Study……………. Limitations……………………. Critical Review of Literature……….. Company Profile ……………………. Industry Profile……………….. Swot Analysis…………………. Data…………………………………
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Procurement Management Plan Date April 16‚ 2013 Project Name: Guidelines on Types of Contracts: All items purchased will be under firm-fixed price contracts. The project manager will work with a contracted purchasing firm to solicit bids from top choice vendors. After this occurs‚ a final vendor will be selected and only a firm-fixed cost contract will be used. Standard procurement documents or templates: Campus Burgers is a burger restaurant that services the public with products such
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There are many measures that can be put in place to ensure that corrupt practices are reduced or absent in procurement proceedings: • First of all‚ information must be collected on the range of products and services available in the market that would suit the requirements of the firm as well as information on the potential suppliers of the products so as to be able to design the procurement process to achieve value for money and to be aware of the characteristics of the market from which purchase
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