Procurement Assessment

Posted by Emma Doolan in Jul, 2014

What is a Procurement assessment?

Procurement: Is an act of obtaining or buying goods or services. This includes the preparation and processing of demands as well as the end receipt and approval of payment. The process of procurement is often part of a company’s strategy because the ability to purchase certain materials will determine if operations will continue.
Assessment: Procedure used by government assessors to determine the value of a property, or the income of a person or entity, in order to charge taxes or to levy on the orders of a court.

What is a Procurement assessment like?

A procurement assessment is like a news report. You need to research all the options that go with the story and select the information that is most accurate and beneficial to the end report. This way you have your facts right and are going to get a precise report outcome. AKA that you’re not just winging it and the out is reliable.

What is the purpose of a Procurement assessment?

A business will not be able to survive if it’s price of procurement is more than the profit it makes on selling the actual product. Consequently the company will go under.

What are the different types of Procurement assessment?

There are two different types of procurement and they are the public procurement and the private procurement. The characteristics of a public procurement system are similar to those of a private sector company because the basic goal of procurement is to find the source of supplies when they are required at the cheapest potential price and within acceptable limits of quality. But despite these similarities public and private procurement do differ in many ways.

What’s involved with conducting a Procurement assessment?

It often involves purchase planning, standards determination, specifications development, supplier research and selection, value analysis, financing, price negotiation, making the purchase, supply contract administration, inventory control and stores, and disposals and other related functions.

Where does a Procurement assessment fit into the process of starting a business?

In the beginning as you need to know if the company will sustain the long hall and make enough turnovers to keep it afloat.

How does a Procurement assessment impact on different areas of business?

This impacts on all the profit side of a business as this process determines your cost cover for what you buy product for or materials to make your product. It will determine if you will make enough of a gross profit to keep the company afloat, otherwise it will make you revaluate your spending to find a cheaper option so that your company will continue to run and that you hopefully won’t be surviving week by week and will be in a more comfortable position.

What terms are used in a Procurement assessment?

Some common terms used a procurement assessment procedure will be purchase planning, standards determination, specifications development, supplier research and selection, value analysis, financing, price negotiation, making the purchase, supply contract administration, inventory control and stores, and disposals and other related functions.

Where can I find more information about a Procurement assessment?

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