The Procurement Management document summarizes and explains the procurement process inside an organization and how it's done, during which several analyses are made using different methods, with one final objective, which is to minimize as much as possible the costs, which will impact directly the benefits of the organization. This document goes throw all the processes and provides a detailed explanation of each step. In chronological order, we define each step and present the methods used in it to accomplish the mission.
Procurement refers to the act of acquiring a service or product, often for a financial counterpart. In practice, it consists of: prospecting the markets, selecting products or services that meet internal or external needs, negotiating financial terms.
Chronological progress of the procuring process: Portfolio Analysis, Procuring Strategy, Sourcing and Supplier Evaluation, Supplier Relationship Management.
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