procurement management

good practices in procurement management are:

  • Develop and implement a procurement strategy: A procurement strategy provides a framework for the organization's purchasing activities, and outlines the goals, objectives, and key priorities for the procurement function. By developing and implementing a procurement strategy, organizations can ensure that their purchasing activities align with their overall business goals and objectives.


  • Establish clear policies and procedures: Clear policies and procedures provide guidance on how procurement activities should be conducted, and help to ensure that they are carried out consistently and in accordance with applicable laws and regulations. Organizations should establish and regularly review their procurement policies and procedures to ensure that they are effective and up-to-date.

  • Identify and evaluate potential suppliers: Procurement managers should regularly identify and evaluate potential suppliers who can provide the goods and services that the organization needs. This involves analyzing the suppliers' capabilities, capacity, and pricing, and selecting those who can provide the best value for the organization.

  • Negotiate favorable contracts and prices: Procurement managers should be skilled negotiators who can negotiate favorable contracts and prices on behalf of the organization. This requires a thorough understanding of the organization's needs, as well as the ability to identify and leverage the organization's negotiating position.

  • Monitor and manage supplier performance: Procurement managers should regularly monitor and manage the performance of the organization's suppliers. This involves tracking the delivery and quality of goods and services, and taking action if any issues arise. It also involves building and maintaining strong relationships with suppliers to ensure that the organization's needs are met.

In conclusion, these practices can help organizations to effectively manage their procurement activities and ensure that they are carried out in a way that supports the organization's goals and objectives.