Procurement is the acquisition of goods and/or services at the best possible total cost of ownership, in the right quality and quantity, at the right time, in the right place and from the right source for the direct benefit or use of corporations, individuals, or even governments, generally via a contract, or it can be the same way selection for human resource.

Simple procurement may involve nothing more than repeat purchasing. Complex procurement could involve finding long term partners – or even ‘co-destiny’ suppliers that might fundamentally commit one organization to another. Procurement can refer to buying, outsourcing, etc of any resources.
Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and price fluctuations. Procurement generally involves making buying decisions under conditions of scarcity. If good data is available, it is good practice to make use of economic analysis methods such as cost-benefit analysis or cost-utility analysis.
An important distinction is made between analysis without risk and those with risk. Where risk is involved, either in the costs or the benefits, the concept of expected value may be employed.

a)Procure plus committee process:

• Request for Expression of Interest/Prequalification
• Invitations for Tender
• Requests for Quotation
• Request for Proposals

b)Details of Project:

• Name of Project
• Lot Number/Category
• Invitation & Package Numbers etc as applicable

Stages of Procurement Process are as below :

• Receiving Bids & Communicating to Bidders e.g. Receiving Tenders & Communicating to Tenderers for the Invitation for Tender for (Name of Project etc)
• Ongoing Evaluations e.g. Viewing Ongoing Evaluation for the Invitation For Tender for (Name of Project etc)
• Completed Evaluations e.g. Viewing Completed Evaluation for the Invitation For Tender for (Name of Project etc)
• Records of Awarded Procurement Processes e.g. Viewing Records of Awarded Invitation for Tender for (Name of Project) etc

Based on the consumption purposes of the acquired goods and services, procurement activities are often split into two distinct categories. The first category being direct, production-related procurement and the second being indirect, non-production-related procurement.

Direct procurement occurs in manufacturing settings only. It encompasses all items that are part of finished products, such as raw material, components and parts. Direct procurement, which is the focus in supply chain management, directly affects the production process of manufacturing firms. In contrast, indirect procurement activities concern “operating resources” that a company purchases to enable its operations. It comprises a wide variety of goods and services, from standardised low value items like office supplies and machine lubricants to complex and costly products and services like heavy equipment and consulting services.

Technology: Symfony 1.0, PHP, JQuery,
Database: MYSQL
Server: Apache
Modules:  e-Tendering, e-Auction, Indent Management, e-Catalogue, Contract Management, Supplier Management, e-Payment, e-RFX.

To get a complete quote of your procurement e-management system or procurement e-tendering services contact us on info@virtueinfo.com

Get ready to experience excellence with us!