Procurement
Procurement is a work process of obtaining or buying goods or services that includes a supplier evaluation, selection and contract, and management and controls of the purchased item and delivery it to the demanded team. Procurement is the acquisition of the materials, supplies, services, etc that a company or project requires in order to successfully operate.
Procurement is one of the most important factors in the success of construction projects. It's pivotal throughout the entire project during both design and construction phases—and it relies heavily on the experience, market knowledge and resources.
Procurement Strategy Development. Plan Your Procurement Carefully.
Procurement Process
STAGE - 1
1.0) Vendor / Supplier / Sub contractor (Pre-Qualification) Process
1.1) Supplier Identification (sourcing Supplier)
1.2) NDA Signed OFF
1.3) 1. Supplier Audit/Assessment (HSE / QMS) 2. Technical Capabilities
3. Evaluate Track Record 4. Industry Feed Back
5. Management's Business support 6. Financial Capabilities.
1.4) Request for Vendor Registration.
1.5) Registration of Supplier / Vendor (As Approved Vendor) in Approved vendor's list.
STAGE - 2
2.1) Identify a need for products/Supplier/Service
2.2) Send Request for Quotation (RFQ) or Request for Proposals (RFP)
2.3) Define Requirement: 1. Specification 2. Award Criteria 3. Evaluation Methodology.
2.4) Commence Tender Process
2.5) Respond to Request for proposal
2.6) Opening of Tenders / Respond to Clarifications.
2.7) TBE/CBE: Supplier's Technical and Commercial Bid Evaluation.
2.8) Initiate Head to Head Action or Direct Negotiation
2.9) Ethics and Fair Dealing
2.10) Understand payment Terms
2.11) Delivery of the Products / Arrange and Receive Products /Service
2.12) Perform Quality Assurance
2.13) Analyse Results and Margins
2.14) Review, Amend, Sign-Off
2.15) Formal Conclusion of Tender Process & Award of Contract (P.O Issuances)
2.16) Notify Un Successful Tenderers
2.17) Contract Management-Negotiate Contract, Execute Contract, Manage Contract.