Services
Development of Procurement Process
Effective sourcing can only be achieved with a good understanding of Procurement best practices. This requires detailed knowledge of the spend category and the market around us. Procurement function must strive to deliver more value outside of traditional spend categories;this can be done by leaving the cost discussion aside, initially. The need is to focus on strategic ways to achieve optimal sourcing.
Aristotle
“The beginning of wisdom is to define”
Defining and codifying the Procurement process is an effective way for a business to establish sound Procurement in business processes and the steps involved within a Procurement department. The aim of a Procurement process is to help identify the exact process in which an organisation can obtain products and services efficiently and cost effectively. A clear and well defined Procurement management process will help to minimize errors, save time and help to identify areas that can be automated to streamline Procurement management processes.
Procurement process is ordinarily codified in the form of a handbook which details all the various steps and procedures involved in the Procurement process; from indent to payment. In short, it provides the essential SOPs than every organisation must implement. While there are universal “principles” related to a standard Procurement process, the SOPs may vary from organisation to organisation depending upon several factors, including;
- Size of the organisation
- Complexity
- Culture
- Capability
- Regulatory and legal requirement
- Controls requirement
- Market considerations
- Audit requirements
Experts at Costmap are uniquely positioned to develop and/or upgrade the Procurement processes and procedures for your organisation, small or large. Our experts will utilize their expertise to understand the best fit for your organisation given the unique culture it possesses.