Business inventory is the lifeblood of a business. Without it, a business cannot exist to deliver its product or service. It is the product or service that engages the customer to make an exchange or a transaction with the business. Inventory is a big part of maintaining […]
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In a business set-up, accounting and procurement are under the financial side of the business. Both departments play a vital role in one another’s activities. For a recap, the definition of procurement means activities or processes related in acquiring necessary services or products from other businesses that […]
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The word ‘subcontracting’ has been thrown around in the business industry for many years. The term is one of the general terms used in the industry to denote a lot of things. In procurement, it has its own meaning both in how a service is performed and […]
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Outsourcing is one of the hottest trends in business today. Many companies, from manufacturing to services, are now adopting this trend based on their needs. Not only are the multinational companies like Walmart, Amazon and Tesco are doing this right now but also smaller companies who […]
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If you’re looking for the government to be your next big client, you must market effectively to get a government contract and render the products or services that your business offers. It might seem strange but there is still a bit of marketing going on, even if […]
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Procurement is more significant in a company than you initially think it is. It isn’t just product or service acquisition for a reasonable price, delivered at the right place and time, with the right amount through a contract. It’s an industry that plays a significant role to […]
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An organization—public or private—cannot survive demanding industries without the people that make things work. Apart from the great business strategies, competent professionals make it possible for projects to become successful. One lucrative field that requires such type of people is procurement. The procurement industry is in constant […]
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A procurement policy varies from one group to the next. It is simply the set of regulations that were set to manage the acquisition of products and services required by an organization so that they could function optimally. Overall, the goal of procurement policies and procedures is to […]
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Every procurement company or organization that aims for excellence should have procurement performance indicators. It is a means to gauge how well the company is doing in providing products and services for the government. Only those that are completely dedicated in bringing forth high levels of quality […]
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Business with the government and corporations are very lucrative ventures if your company does it right. Getting Federal and corporate contracts are opportunities to show your clients what your company could provide. Doing business with the government involves a lot of state and federal regulations that you […]
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