What is procurement
high level process
Acquiring good and services
External suppliers
P3M
Supplier selection process
Define Requirement Issue ITT Answer queiries Receive and evaluate bids Award contract
Two types of procurement strategy
Make
Buy
What is a contract
two or more parties
legally binding obligations
Outline four contractual arrangments
Single Parrellel Sequential Prime Turnkey Partnering
Types of relationship
Transaction
Long term
Collaborative