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Procurement has been a vital, transactional part of conducting business for almost as long as commerce has existed. Although the days of scribes tracking purchases on papyrus scrolls are long past, the process of carefully selecting and purchasing the goods and services needed for day-to-day business operations remains as important as ever. By enabling the company to reliably get the supplies it needs at the lowest cost, procurement can directly impact the bottom line. Procurement encompasses a range of activities involved in obtaining goods or services. What is the purpose of procurement? In general, procurement teams work to obtain competitively priced supplies that deliver the most value. Procurement is a vital business function. When managed efficiently and done well, it can help increase your business’s profitability. It includes a range of activities involved in obtaining goods and services, including sourcing, negotiating terms, making purchases, tracking when supplies are received and maintaining records. It’s important to continuously monitor and assess the procurement process to improve any weak spots or inefficiencies. Technology can reduce procurement cost and administrative overhead by automating and tracking procurement processes. Procurement involves every activity involved in obtaining the goods and services a company needs to support its daily operations, including sourcing, negotiating terms, purchasing items, receiving and inspecting goods as necessary and keeping records of all the steps in the process. Procurement is an important step in understanding supply chains, because it helps a company find reliable suppliers that can provide competitively priced goods and services that match the company’s needs. That’s the case whether the company is seeking raw materials for manufacturing, a marketing services provider or new office supplies. Minimizing cost is one important aspect of improving your procurement processes. But it’s also vital to identify suppliers that provide the quality of goods and services that the company needs and have the capacity to deliver reliably and a track record of doing so. The procurement process generally involves a number of steps. The business identifies particular goods and/or services that it needs, sources the suppliers that will help the company reach its business objectives, negotiates terms and costs and then purchases and receives the relevant items. It’s important to remember that procurement doesn’t consist of a series of isolated acts — it’s an ongoing process For example, businesses generally aim to establish relationships with key suppliers to help obtain the best service and lowest possible costs, which ultimately translate into higher profit margins. Companies may also need to conduct regular quality assurance checks and performance analysis to make sure suppliers consistently meet expectations. By monitoring procurement KPIs, businesses can boost the efficiency of their procurement process, track progress toward business objectives and identify areas for improvement Our scope includes: - Studying the complete project Documents and requirements. - Preparation of Packages list along with the related competitive vendor list - Segregation of the packages including all supported documents - Sending request for Quotation to all vendors and other complied alternative subcontractors and suppliers - Preparation of the technical & commercial comparison with all subcontractors / suppliers - Select for client approval the best subcontractor / Supplier as a Quality, Lead time and cost with full compliance to the scope of work and project requirements - Coordinating with the selected subcontractor / supplier for the Payment terms, Program of works and all other contract terms for client approval - Following up with the selected subcontractor / Supplier for the technical and design approvals - Tracking the material delivery to the client site and controlling the QA/QC inspection approval at site - Submit a procurement and tracking log on weekly basis to the client till the completion of the project.