What is Procurement? | Procurement Process

In this video, I have explained: "What is Procurement?", and the Procurement process in a simplified way.
Difference between Procurement and Purchasing- • Procurement vs Purchas...
Procurement is usually a part of the input to a company that uses the purchased goods or services in the making of their own final product. This makes it a very vital function of any business.
The procurement process involves activities such as - identification of needs, sourcing, selection, negotiation, ordering, receiving, and payments.
Topics that I covered in this video are-
1. What is Procurement? / what is procurement mean?
2. What is procurement process?
3. Steps involved in a procurement process
Steps are- 1. Identification of Requirement
2. Determination of the Specifics of the Requirement
3. Sourcing
4. Negotiation and Finalization of Price and Terms
5. Purchase Requisition and Order
6. Delivery of the Purchase Order
7. Expediting
8. Receive And Inspection
9. Payment Process
10. Record Keeping And Review
4. What’s the difference between direct procurement, indirect procurement, and services procurement?
5. procurement meaning, definition, types
Read in details or download pdf- educationleaves.com/what-is-p...
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#procurement #procurementprocess #industrialengineering

[@michaelg1915]

Good. Video but the computer generated voice makes this difficult to listen to.

[@user-uf5sc6ff2q]

So simple and straight to the point. this video is perfect

[@Gi-FM]

**Procurement**:
- Focus: Procurement is a broader process that encompasses purchasing but extends beyond it. It involves strategic planning, sourcing, negotiating, and managing relationships with suppliers.
- Scope: Procurement involves analyzing the organization's needs, identifying potential suppliers, evaluating contracts, and ensuring alignment with organizational goals.
- Goal: The primary goal of procurement is to optimize the entire supply chain to achieve long-term value, mitigate risks, and support organizational objectives.
In simple terms, purchasing is like going to the store to buy groceries, while procurement is like planning the entire shopping list, finding the best stores to buy from, negotiating deals, and making sure you have everything you need to cook a great meal.

[@gouprith1]

Found the Best Explanation on Procurement. After checking few Videos. 🙏🏻

[@Educationleaves]

Thanks man 👍

[@Lerato_procurement_genius]

Interesting

[@RWarrior777]

@@Educationleaves hi there, liked the video. I am interested in learning procurement. Where can I begin? Thanks

[@michaelstaylor6312]

I love this tutorial video... Straight to the point ✊.... Thanks!

[@ShiferawAbrahaSIBHAT]

Thanks for clarification on procurement!!

[@supplychainlogisticstv]

Hi, I like the video on procurement. It is a good subject to discuss and study.

[@bspamericas7883]

Great video! Will share it with our future clients.

[@rengankrishnaiyer6912]

Great simple to understand video

[@RumbidzaiShingai-se6ro]

Wowwwww i understood thank you ,it was just clear and straight forward

[@saikatmajumdar7096]

Very useful and well explained .

[@rosygautam7895]

Must say really really helpful to understand the concept. thank you so much for sharing the details! really appreciated!

[@Educationleaves]

Glad it helped!

[@namakulajennifermrs.bulega2941]

Very very useful thank you so much for sharing

[@Dr.M687]

Thank you, very helpful.

[@kmacklmp1]

Great Video , straight to the point and very informational

[@Educationleaves]

Thank you!

[@Bookersbones]

Bot

[@alicesekyi8508]

Am studying Procurement and Supply in the tertiary its a fine courses

[@maryroxelleexconde7883]

Thank you this is very useful and knowledgeable.

[@Educationleaves]

Ur welcome!

[@NadaAAbbas]

Very helpful video, Keep on doing these beneficial videos with that clear and simple explanation.

[@Educationleaves]

Thanks!

[@sanjeebroytonmoy686]

Thank you so much, for this useful video.

[@Educationleaves]

Most welcome

[@sannitigokul6484]

Exlent program for me thank you so much

[@pamelaesidneymarchifreitas6532]

This video showed us golden information

[@Educationleaves]

Thank you!

[@ramyashreeudayan4805]

Very useful 🔥💯😎....Thank you 💯🔥💯

[@Educationleaves]

Most welcome ❤

[@ARVINDKUMAR-xs3zn]

Really Good explained and cover lots of things. 👍👍

[@Educationleaves]

Thanks!

[@SinnehKamarah-xi8dj]

Great video

[@noname-bk6lv]

Great Video, easy to understand

[@Educationleaves]

Thank you!

[@natashadavina7592]

great content this will be very useful for my interview

[@Educationleaves]

Thanks!!

[@ReactionYoutubeShort]

hi, how was your interview? I am interested in this field and I have had an interview in purchasing this morning..BTW I would like to make friends with people who is working in this field and you are all welcome...please feel free to text me

[@lonerangerr007]

Thank u looks good and very informative

[@Educationleaves]

Most welcome

[@alphaconteh5543]

Very helpful.
Thanks

[@Educationleaves]

Ur welcome!

[@mohamedqadar8858]

very very helpfully, Thanks Alot

[@Educationleaves]

You are welcome!

[@jefferytwumasi]

Thank you, very helpful

[@Educationleaves]

You are welcome!

[@khawarsatti1403]

Which software you use for video making and sound

[@TemesgenGuye]

Nice learning

[@MadaraUchiha-vc4cf]

danko! it means thank you

[@IINGHII]

Make the speed 1.25x and enjoy

[@nishantazad8285]

Very nice easy to understand

[@Educationleaves]

Thanks❤️

[@parshyalg1135]

Wow nice explaining...i like ur videos

[@Educationleaves]

Thank you so much!

[@halimaessaadiasahraoui2458]

thank you a lot it's very useful

[@Educationleaves]

Ur welcome!!

[@BuckowFburnin]

thanks, it's really helpful

[@Educationleaves]

You are welcome!

[@sharukhmohdd658]

Thank u sir India

[@rizkiaadinda1019]

thanks, it's really helpful

[@Educationleaves]

You are welcome 🙏

[@dabbuish]

Thanks! it was helpful.

[@Educationleaves]

Glad it helped!

[@Akothamadi]

thanks for sharing

[@Educationleaves]

My pleasure

[@safarkt9626]

Its really useful video.. Sir, can you explain "What is Procurement’s contribution to successful execution of Lump Sum project so that it is completed within agreed schedule and budget?"

[@catherineonyeanu8154]

If i may, Procurement is key to the delivery of projects. A lumpsum project here is a project in which the contractor is paid fully for all aspects of the project including the procurement. Some projects are called EPC (Engineering, procurement, and commissioning). Hence, the contractor manages the procurements for the project as part of the contract.
This implies that the impact of procurement on the delivery of the project is key. A major scope managed in this that poses a big threat is the management of long lead items (LLI)which are items required at a certain time of the project but there procurement will take a very long time.
For example are specially custom parts which may be manufactured abroad. The time and risks involved in this singular item can greatly delay the completion of the project, therefore such items are manages separately and their procurement is started long before it is needed, in other to make sure it arrives in time. When such items are mismanaged or experience delays in delivery, they can have huge schedule and budget impacts on the project.
I hope I was able to throw some light.
Question is old, but it at least got an answer for readers. Thank you.

[@anuragkarri201]

Hi sir, is there anyone providing procurement quality training courses in India?

[@gaston.]

robotic... but overall good job.. thanks for sharing

[@AnnieLoulou]

@Educationleaves how can I have the PPT with the visuals

[@abhishekds1328]

Sir am not able to find PDF download option

[@abdullahibashirdahir7851]

thanks this will help for all beginner levels

[@ojaspurohit5852]

Anyone engineer here from Procurement?

[@turnocent_Bhardwaj]

Logistics

[@elizabethakanjogyue9856]

Very nice video

[@Educationleaves]

Thanks!

[@MdRizwan-kq1up]

very useful

[@Educationleaves]

Thank you!!

[@sannitigokul6484]

Please make video visual merchandising

[@Ashrayskumar]

GOOD INFO

[@Educationleaves]

Thank you!!

[@sannitigokul6484]

This is very help full forme

[@Educationleaves]

Thank you!

[@aparnas9786]

Does making process of supply chain mgt includes procurement?

[@Educationleaves]

Yeah it’s part of supply chain...check out my video on order management and supply chain management.

[@MdRizwan-kq1up]

good

[@lawrencejuma3552]

This is useful

[@Educationleaves]

Thanks

[@MaybejustNarbe]

AWESOME

[@Educationleaves]

Thank you!

[@user-lb4qu4zy3y]

simple

[@shainaferrer4216]

can i ask? first what is the meaning of average procurement performance? and leading procurement performance? what attribute differences between average and leading procurement performance?

[@gagankumara6003]

ich liebe dich

[@gagankumara6003]

Guess what I typed

[@noname-bk6lv]

@@gagankumara6003 W for effort

[@sannitigokul6484]

Please make videos
Up selling
Down selling
Cross selling

[@kagamitaiga9167]

Noiceee

[@shanky5089]

Sir aap aapna voice dalte to Jayda aacha hota 👍

[@bijoykhan6286]

Tnkx

[@Educationleaves]

Welcome

[@mellosuccess7134]

Was of benefit to me

[@Educationleaves]

Glad to know that 😊

[@rustyt.pasawa2948]

nice

[@Educationleaves]

Thanks!

[@basilnaidoo2917]

Wheresthe pdf?

[@user-vc8of1be1n]

Я НАДЕЮСЬ , ЧТО РЕБЯТА ИЗ РАНХИГСА ВИДЯТ ЭТОТ КОМЕНТ , ГОТОВЬТЕСЬ, ТАМ 18 СЛОВ))))))))

[@nikhilbonde2500]

Where is the pdf link?

[@Educationleaves]

check now...and thanks for reminding me.

[@salimmuhammadbukhit9462]

@@Educationleaves help with pdf plz if not mind

[@Educationleaves]

@@salimmuhammadbukhit9462 Go through the pdf link in the description.

[@konasiva1760]

I need job in this field any one help me ..

[@faithmwende7583]

Same here

[@kintero27]

The robot voice is horrible. Please change it.

[@9247398949]

good video

[@BuckowFburnin]

Make the speed 1.25x and enjoy

[@BuckowFburnin]

Where is the pdf link?