The Basics of Procurement Management

[@pmclounge]

Check out more Procurement Management videos here bit.ly/ProcurementManagement

[@jatinsaini4515]

After watching it, I was astounded by the ability of this quick film on procurement management to convey a comprehensive understanding of the underlying concepts. The film did an excellent job of emphasizing the significance of contract management, supplier selection, and strategic sourcing in the procurement process. It emphasized the need of developing trusted relationships with suppliers, negotiating favorable terms, and ensuring compliance with norms and moral standards. The film also emphasized the benefits of smart procurement practices in terms of cost savings, risk reduction, and increased efficiency. I learnt a lot about the procurement process's various stages, such as the request and purchase order. Overall, this video expanded my understanding of procurement management and demonstrated how important it is to achieving company goals.

[@pmclounge]

Your comment brilliantly encapsulates the key takeaways from the procurement management video! 🌟 We're thrilled to hear that the video left you astounded and provided you with a comprehensive understanding of the fundamental concepts in procurement management. It's clear that you've absorbed the essential points regarding contract management, supplier selection, strategic sourcing, and the importance of building trust and ensuring compliance. Highlighting the benefits of smart procurement practices, such as cost savings, risk reduction, and increased efficiency, underscores how integral effective procurement is to the success of businesses and projects. It's fantastic to hear that you also gained insights into the various stages of the procurement process, like request and purchase orders. Thank you for sharing your thoughtful feedback and for recognizing the significance of procurement management in achieving company goals. If you ever have more questions or want to explore specific aspects of procurement further, don't hesitate to reach out. We're here to support your learning journey in this crucial field! 🛍️🤝📈

[@varjotmundi3028]

After viewing the procurement management video, I was genuinely impressed with its ability to convey complex concepts clearly and concisely. The video effectively outlined the significance of contract management, supplier selection, and strategic sourcing in the procurement process. It emphasized the importance of nurturing trust-based relationships with suppliers, securing favorable terms, and maintaining ethical standards. Furthermore, the video underscored the advantages of adopting intelligent procurement practices, including cost reduction, risk mitigation, and increased operational efficiency. It provided valuable insights into the various stages of the procurement process, including requests and purchase orders. In summary, this video substantially enhanced my understanding of procurement management's critical role in accomplishing organizational objectives.

[@pmclounge]

Your comment beautifully articulates the value and impact of the procurement management video! 🌟 We're thrilled to hear that you were genuinely impressed with the video's ability to explain complex concepts clearly and concisely. It's evident that the video effectively highlighted the importance of contract management, supplier selection, and strategic sourcing within the procurement process, with a strong emphasis on trust, favorable terms, and ethical standards. The recognition of the benefits associated with intelligent procurement practices, such as cost reduction, risk mitigation, and enhanced operational efficiency, further underscores the pivotal role that procurement management plays in organizations. Thank you for sharing your insightful feedback and for acknowledging the critical role of procurement management in achieving organizational objectives. If you ever have more questions or wish to explore specific aspects of procurement in greater detail, please don't hesitate to reach out. We're here to support your continued learning journey in this important field! 🛍️🤝📈

[@prabhjotkaur3092]

I was amazed by the capacity of this brief video on procurement management to provide a clear knowledge of the underlying ideas after seeing it. The movie did a good job of outlining the value of contract management, supplier selection, and strategic sourcing in the procurement process. It emphasised the value of building trusting relationships with suppliers, securing advantageous terms, and guaranteeing adherence to rules and moral standards. The movie also emphasised the advantages of cost savings, risk reduction, and improved efficiency achieved by smart procurement practises. I learned a lot about the several phases of the procurement process, such as the request, purchase order. Overall, this video broadened my understanding of procurement management and highlighted how crucial it is to accomplishing organizational goals.

[@pmclounge]

Thanks for sharing. Appreciate your comment and good words, feel free to subscribe for more

[@SaloniSingh-x7v]

Thankyou for clarifying my doubts on procurement management process in a simple way, as you divided it into three processes which are plan, conduct and control. in detail plan procurement management is the process of documenting the purchase decisions, specify approach and identifying potential sellers. where the next process is conducting procurement in which we obtain sellers response and last step is control procurement in which we manage our relationships.

[@pmclounge]

Glad you found the video helpful. We have an ever increasing library of project management videos, so do consider subscribing 😊🙏

[@arshdeepbrar9331]

I was thoroughly impressed by the concise and informative nature of the procurement management video I watched. The video effectively highlighted the key concepts associated with contract management, supplier selection, and strategic sourcing within the procurement process. It stressed the importance of establishing trust-based relationships with suppliers, securing favorable terms, and upholding ethical standards. Additionally, the video underscored the benefits of smart procurement practices, including cost savings, risk mitigation, and enhanced efficiency. It provided valuable insights into the various phases of the procurement process, such as the request and purchase order stages. Overall, this video significantly expanded my comprehension of procurement management and underscored its vital role in achieving organizational objectives.

[@pmclounge]

our comment beautifully reflects the impact of the procurement management video! 🌟 We're delighted to hear that you were thoroughly impressed by the video's concise and informative presentation. It's clear that the video effectively conveyed the essential concepts related to contract management, supplier selection, and strategic sourcing, emphasizing the importance of trust, favorable terms, and ethical standards. Highlighting the benefits of smart procurement practices, such as cost savings, risk mitigation, and increased efficiency, reinforces the critical role that procurement management plays in organizations. It's great to know that you gained valuable insights into the various phases of the procurement process, including request and purchase orders. Thank you for sharing your positive feedback and for recognizing the vital role of procurement management in achieving organizational objectives. If you ever have more questions or wish to delve deeper into specific aspects of procurement, please feel free to reach out. We're here to support your continued learning in this important field! 🛍️🤝📈

[@Mandeep-098]

This video is best to understand the basic concept of procurement management moreover before that i have doubts in this topic but after watching this video clear my every single doubt in simple way ....Thank you for providing this video

[@pmclounge]

Glad to hear that, thanks for your comment. Don't forget to subscribe for more 💥🚀

[@rajeevreddy797]

Best video of procrument i had never seen like this.

[@pmclounge]

Thank you Rajeev, appreciate your comment. Don't forget to subscribe for more helpful content on Procurement and Project Mgmt as a whole 🚀

[@poojachaudhary6640]

Thanks for clearing why Procurement management stands out of other knowledge areas. This clearly explains the knowledge area of procurement management and it's type.

[@pmclounge]

Thanks Pooja, glad you liked the video. Don't forget to subscribe for more 😊👍

[@RWarrior777]

@@pmclounge hey there , i liked the video. I'm interested in learning procurement. Where can I begin? Or course or book can I take? Thanks

[@kanchanrawat4989]

I'm glad that I found your video on KZbin because I had a few doubts about procurement in project management and it got cleared that why it stands out from other knowledge areas and what tools are needed in this domain to get successful

[@pmclounge]

Thanks for your comment Kanchan. So glad you found the channel helpful, don't forget to subscribe for more on project management 😊👍

[@nanaksinghmahal1941]

I Watch this video on procurement management and I learn so much about this topic with good examples .moreover they sharing their video in such an easy way . So thanks you so much for making this video

[@pmclounge]

Thank you so much for your kind words! 😊 We're delighted to hear that you found the video on procurement management informative and easy to follow. It's great to know that the examples helped enhance your understanding. Don't forget to subscribe for more insightful content! 📚👍

[@GurpreetSingh-xd9wv]

Hi!! I have never seen this kind of easiest way of explaining the basic principles of Procurement Management. I have just got so many points and ideas related to procurement by watching this tiny video. Lastly, it does not have any complication method to get the purpose of Procurement Management.

[@pmclounge]

Thank you so much for your comment Gurpreet. The whole idea of this channel is to explain project management concepts in the simplest language possible. Don't forget to subscribe for more 😊👍

[@kurukuru7436]

thanks was make this video, i dont know at all about procurment but i got job as a procurement admin, thankyou

[@pmclounge]

Great to hear Jessie. All the best on the new job and you can always check out the other videos in the Procurement Management playlist bit.ly/ProcurementManagement 😊👍

[@Jaspreetkaur-p4h]

Really very informative video on basics of procurement management. I was unaware of the fact that we should also participate eventhough we hired another company. one more thing is everything in the video is explained in a very simple way. I really liked it.

[@pmclounge]

Glad you found the video helpful. Don't forget to subscribe for more 😊

[@Harpej_singh]

Excellent breakdown of procurement management! This video really highlights the importance of strategic procurement in optimizing costs and ensuring quality in supply chain operations. Great insights!"

[@pmclounge]

Thanks for your comment, really appreciate it.

[@AravindaJoginapalli]

Your videos are very helpful. Thank you for creating them and that too for free. I really appreciate your hard work.

[@pmclounge]

Thank you Arvi, glad to help 👍🙂

[@fatoudiallo9806]

@@pmclounge how to contact you please?

[@pmclounge]

You can mail us at [e-mail]

[@rajvirkaur6174]

The video conveys that procurement management encompasses a spectrum of activities, including planning, sourcing, selecting suppliers, negotiating contracts, and managing the entire lifecycle of goods and services. Its goal is to secure resources in a manner that is both cost-efficient and timely, all while upholding quality standards and adhering to regulatory and ethical guidelines. By executing procurement effectively, one can mitigate risks, optimize value, and cultivate positive relationships with suppliers, ultimately contributing to the success of projects or businesses.

[@pmclounge]

You've summarized the essence of procurement management beautifully! 🌟 Your comment eloquently captures the multifaceted nature of procurement management and its pivotal role in project and business success. Indeed, effective procurement goes beyond merely acquiring goods and services; it involves strategic planning, supplier relationships, cost-efficiency, quality assurance, and compliance with various guidelines. Mitigating risks, optimizing value, and fostering positive supplier relationships are crucial outcomes of proficient procurement management, as you rightly pointed out. These aspects not only contribute to successful projects but also to the overall growth and sustainability of businesses. Thank you for sharing this insightful overview of procurement management with our community. Your comment adds depth to the understanding of this important field, and we appreciate your engagement with our content! If you have any questions or would like to delve deeper into any aspect of procurement, please don't hesitate to ask. 📦💼📈

[@thedarkestknightx]

I Found this video on procurement management basics very informative. It was interesting to learn that it's important to participate. Additionally, I appreciated how the video presented everything in a simple way, making it easy to understand. Overall, it was a great video that I really enjoyed. Thank You

[@pmclounge]

Thank you so much for your fantastic comment! We're thrilled to hear that our procurement management video hit the mark and kept things simple yet informative. We're glad you enjoyed it and found value in the importance of participation. Your appreciation fuels our project management prowess, so stay tuned for more videos that will make you want to shout, "Procurement, I choose you!" Thank YOU for being an awesome viewer!

[@sumanpreet3923]

You explained this topic very simply and it is beneficial for me to know more about this. Thank you so much.

[@pmclounge]

My pleasure Suman. Don't forget to subscribe for more 👍

[@tanukanyan9053]

This video tells us that procurement management encompasses the planning, sourcing, supplier selection, contract negotiation, and lifecycle management of goods and services. It aims to achieve cost-effectiveness, timely acquisition, and quality resources while adhering to regulations and ethical standards. Effective procurement minimizes risks, maximizes value, and fosters positive supplier relationships to contribute to project or business success.

[@pmclounge]

Thanks for your comment! I'm glad the video gave you a clear understanding of procurement management. It covers planning, sourcing, supplier selection, contract negotiation, and lifecycle management, aiming for cost-effectiveness, timely acquisition, and quality resources while adhering to regulations and ethical standards. Effective procurement minimizes risks, maximizes value, and fosters positive supplier relationships, contributing to project or business success. If you enjoyed the content, consider subscribing for more valuable insights! 🌟📚🙏

[@SN-sw2dn]

Excellent video, simple yet comprehensive!

[@pmclounge]

Glad you enjoyed it, don't forget to subscribe for more 😊👍

[@aleistercornejo1726]

Sweet, simple, and straight to the point. Thank you!

[@pmclounge]

Happy to help Aleister 😊👍

[@ariikwathok6458]

I Like the way you lecture procurement and supply chain management that why I need you to train me through on line.

[@pmclounge]

Feel free to get in touch at [e-mail]

[@vusilepaulo7754]

Good

[@htcmohan]

Very helpful series. This covers Procurement Management on the whole. Thank you very much PMC Lounge for sharing this great material.

[@pmclounge]

You're very welcome! 😊👍

[@davinderpalsingh710]

Nice very well explained the process of procurement management. Thankyou

[@pmclounge]

Hi Davinderpal, glad you found the video helpful. Don't forget to subscribe for more 👍

[@abileshganesan3793]

Wow your channel is freaking amazing, I really like all your videos, the best part of your work is the examples used are so catchy and English is so simple and by the end you have explained all complex process in simple terms. Thanks a lot for this

[@pmclounge]

Thanks for all the good words 👍 Don't forget to subscribe

[@shahnawazvadsariya9884]

As said in the video, being a project manager you should also participate in the procurement process as you are accountable if there is any delay in the completion of project or even project failure.

[@pmclounge]

You got that right Shahnawaz 💯👍

[@Teachable1]

MA SHA ALLAH I liked it.

[@pmclounge]

Thanks Aisha

[@oudini9901]

THANKS FOR SHARING ; VERY HELPFULL

[@pmclounge]

You're welcome 😊👍

[@abdikarimabdullahi7761]

Thank you Teacher 😊

[@pmclounge]

You are very welcome Abdikarim, don't forget to subscribe for more 👍

[@FrancisKoropa]

Thanks sir,

[@pmclounge]

Most welcome

[@sonasingh131]

i loved it how you gave links in the description.. it shows how much you think about students :) and amazing video :)

[@pmclounge]

Thanks so much sona! 😊

[@Teachable1]

How to practice this skill if we don't get any opportunity?

[@pmclounge]

Hi Aisha, if you are looking to practice Procurement Management, it is best to find an opportunity within your organization to begin with. All the best 👍

[@Shahdoskadp]

What are the procurement tools/tactics/ methods we can use?

[@pmclounge]

Please check the procurement management playlist 👍😊

[@Shahdoskadp]

@@pmclounge can you help with my college case study ?

[@ettabangura4246]

All notification

[@pmclounge]

Yes, turn that on!! Thanks Etta, don't forget to subscribe for more on project management 😊👍

[@giftmarshallchawira1895]

Thank you Sir

[@pmclounge]

Most welcome 🙂👍

[@palashunofficial8712]

Super

[@pmclounge]

Thanks! Don't forget to subscribe! 👍🙂

[@AlaraniTv]

Chanel from india? Beautiful voice

[@pmclounge]

Thanks 👍🙂

[@KaranSidhu-m5c]

Hello! This video emphasizes the vital connection between procurement and sellers in projects. One important lesson is the need to acknowledge that specific project parts require specific skills. It's not just about obtaining items; it's about getting the right ones from skilled individuals for project success. This video illustrates that skill-task matching is like assembling a puzzle, a key to a successful project journey! 🧩🛠 Thank you for Clarifying That.

[@pmclounge]

Hello there! 🧩🛠 Thank you for sharing your insightful thoughts on the importance of the connection between procurement and sellers in project management. You've hit the nail on the head with your observation about the need to recognize the specific skills required for different project components. Indeed, procurement is not just about acquiring items; it's about strategically obtaining the right items from individuals or vendors with the necessary expertise. Your analogy of skill-task matching being like assembling a puzzle is spot on - it's a crucial piece of the puzzle for ensuring a successful project journey! We're glad to hear that you found this aspect of procurement management clarified in the video. If you have any more thoughts or questions about procurement or project management, feel free to share them. It's always great to engage in discussions that enrich our understanding of these vital topics. 📦🔗📈 Thanks for being a part of our community, don't forget to subscribe for more! 🙌

[@10ran]

Pl explain hi seas sales /procurement

[@xplorooo]

❤