Procurement in Project Management

Procurement in the main stream of the business world is to ensure organizations has the proper necessities for the selections process of the suppliers. Procurements within an organization helps to develop the right tools necessary when selecting and maintaining performance criteria, speciation’s and defines the terms and conditions in an organization. As set forth by the company the procurement area of the company conveys and develops the necessary values and mission with an in organization. In looking further into the importance of procurements we can determine the alternative methods to procurement, the methods necessary to keep procurement in order and the overall value of procurement with in management project.

Procurement within a project can help organizations create and develop the right elements necessary to obtaining goods and services. In which, allows organization to help streamline the buying process, while making sure the good and services adhere with the market conditions at the present time. As stated by Sollish and Semanik (2012) “Supply and demand continually drive process up and down. As economic conditions change, demand increases or declines, generating shortages or excesses in supply or decreased demand (or combinations) generally lead to reduced prices.” Understanding the market gives the organization the knowledge necessary to making the right buying decisions. Ultimately, the organization has the buying power to take advantage of reduces prices within the markets. Also, gives the organizations the ability to negotiate prices with the suppliers to reduce or maintain cost. Having the right procurement process can thoroughly examine and define the requirements and understand the company objectives and underst...

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...ion even though risk might apply.

All in all, procurement is an important part of any organization it gives the organization the necessary factors to help gain the knowledge of market conditions, competition and the overall essential conditions to keep an organization in line with the companies mission, vision and the overall objectives of an organizations wish to obtain. Learning and gaining knowledge to help avoid mistakes in executed project management.

Works Cited

Heaton, B. (2012).Transforming Procurement: Will iPads Replace Binders?. Retrieved http://www.governing.com/blogs/view/gov-will-ipads-replace-binders.html

Kumar, A. (2013).Apple’s Procurement Strategy. Retrieved http://spendmatters.com/2013/06/04/apples-procurement-strategy/

Sollish, F.B., & Semanik, J. (2012).The procurement and supply manager’s desk reference. Hoboken, NJ: JohnWiley & Sons, Inc.