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Procurement Management - Coggle Diagram
Procurement Management
Procurement process management
Types of contract to use
Metrics to measure contractor’s performance
Planned delivery dates
Organization’s standard documents
Number of vendors/contractors
Purchasing plan
Coordination of purchasing lead times
Identification of prequalified sellers
Procurement process flow
Procurement planning
Types of contracts
Fixed Price
Cost reimbursable
Time and materials
Unit price contracts
Solicitation planning
Solicitation
Solicitation involves obtaining proposals or bids from prospective sellers
Organizations can advertise to procure goods and services in several ways
Source selection
Source selection involves
evaluating bidders’ proposals
choosing the best one
negotiating the contract
awarding the contract
It is helpful to prepare formal evaluation procedures for selecting vendors
Buyers often create a “short list”
Contract administration
Contract close-out
Contract close-out includes
product verification to determine if all work was completed correctly and satisfactorily
administrative activities to update records to reflect final results
archiving information for future use
Procurement audits identify lessons learned in the procurement process
Procurement Cycle
Qualifying bidders
RFQ
RFP
Evaluating the bids
Awarding the contract
Managing the contracts
Logistics and expediting
Change coordination
