Procurement Cycle Flashcards by Emily Peverell

Q

What is Step 1

A

DEFINE BUSINESS NEED AND DEVELOP SPEC

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Q

What is Step 2

A

MARKET ANALYSIS - Make the desicion of make or buy

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Q

What is Step 3

A

DEVELOP THE STRATEGY AND PLAN

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Q

What is Step 4

A

PRE-PROCUREMENT MARKET TESTING

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Q

What is Step 5

A

DEVELOP DOCUMENTATION AND DETAIL SPECIFICATION

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Q

What is Step 6

A

SUPPLIER SELECTION TO PARTICIPATE IN TENDER

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Q

What is Step 7

A

ISSUE TENDER DOCUMENTS

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Q

What is Step 8

A

BID AND TENDER EVALUATION AND VALIDATION

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Q

What is Step 9

A

CONTRACT AWARD AND IMPLEMENTATION

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Q

Bonus: Step 11?

A

Contract performance and improvement (KPI)

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Q

Bonus: Step 10?

A

Warehouse, logistics and Reciept

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Q

Bonus: Step 12?

A

Supplier Relationship Management (SRM)

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Q

Bonus: Step 13?

A

Asset Management

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Q

A

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