Procurement s very important in business and these businessmen are already prepared for this. In fact, it is already part of their long-range planning. Procurement is also heard in government offices and departments. Before the business starts, the owner must do this first. It is because procurement is an important step in understanding supply chains. The reason for this is to help a company find reliable suppliers that can provide competitively priced goods and services that match the business's needs.
Importance of procurement in business
- Thread starter Starmix
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- #4
This is one way to monitor your expenses in advances and because you'll buy in bulk, you can ask for a reasonable discount. You can also monitor the pricing on advance from the competitors. You need to check the uniform pricing.
They will even know how much money it is likely for the supplier to supply the products and everything they need to know before they begin the business because they may not have enough time to make that research when they begin the business
Thank you so much for making me know this
of course these are the things you should learn before you set up to start a business in this world now, keep things in place before starting one and learn from experts daily.
of course these are the things you should learn before you set up to start a business in this world now, keep things in place before starting one and learn from experts daily.
Procurement is important in business because it affects profitability. The staff responsible for procurement should find reliable suppliers which can offer quality products which meet with the company's needs at a competitive price.
Agreed, procurement is a essential aspect of business operations. Planning for it from the start ensures a smooth supply chain. I also seen how government offices emphasize procurement. Its about finding reliable suppliers offering the right goods at competitive prices.
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- #11
That's true it's a real happening in a business. Procurement is done of there is an immediate project. And before the things are procured, the person in charge must scout first for the pricing and the quality before they are finally purchased.
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- #13
When the management procures something, there is a very important project to undergo. In procuring, there are assigned personnel usually the resource personnel who canvasses the prices first before finalizing the procurement.
