The Elements Of The Procurement Cycle

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" A purchasing manager should have a good understanding of the elements of the purchasing cycle. Explain the elements of the procurement cycle and assess its significance to the role of a purchasing manager ".

Management in any company must understand the art of obtaining products and services. The procurement or purchasing cycle considered as one of concepts of purchasing that taking orders and activities from suppliers and transfer it to the final destination and follows specific steps for identifying the need of the company through the final step of the contract admin. For any manager he need to know how to manage his company or his purchasing business of goods and services ,
So he applies what we called purchasing cycle which is " the plenty of time between two purchases and helps manager to achieve the highest percentage and activity of sale purchases ".

What is the steps for purchasing cycle ? What is the elements of the procurement cycle ?

1. Identify and define the need
2. Describe the need
3. Investigate , Evaluate and Select supplier
4. Prepare , place and issue purchase order or contract
5. Follow up the order
6. Receipt and Inspection
7. Distribute
8. Faulty consignments and Rejections
9. Audit the invoice
10. Contract admin

So , we need to explain carefully each element and how it helps
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They determine the quality , quantity and time at which the goods and services are needed interior customer. Then , we will go to explain description and mean that t the materials and apparatuses needs begin with the association division or in its stock control segment. They decide the quality , amount and time at which the products and enterprises are required inside client. The time , quality , quantity and right place are so important for any purchasing process even if small or huge
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