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...
Follow me -
Instagram - / sukanta_mac
My website - educationleaves.com
Like, share the video and Please subscribe to my channel.
#procurement #procurementprocess #industrialengineering

[@user-uf5sc6ff2q]

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

[@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!

[@michaelg1915]

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

[@rosygautam7895]

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

[@Educationleaves]

Glad it helped!

[@ShiferawAbrahaSIBHAT]

Thanks for clarification on procurement!!

[@RumbidzaiShingai-se6ro]

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

[@maryroxelleexconde7883]

Thank you this is very useful and knowledgeable.

[@Educationleaves]

Ur welcome!

[@Dr.M687]

Thank you, very helpful.

[@sanjeebroytonmoy686]

Thank you so much, for this useful video.

[@Educationleaves]

Most welcome

[@kmacklmp1]

Great Video , straight to the point and very informational

[@Educationleaves]

Thank you!

[@Bookersbones]

Bot

[@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.

[@saikatmajumdar7096]

Very useful and well explained .

[@rengankrishnaiyer6912]

Great simple to understand video

[@namakulajennifermrs.bulega2941]

Very very useful thank you so much for sharing

[@ramyashreeudayan4805]

Very useful 🔥💯😎....Thank you 💯🔥💯

[@Educationleaves]

Most welcome ❤

[@sannitigokul6484]

Exlent program for me thank you so much

[@pamelaesidneymarchifreitas6532]

This video showed us golden information

[@Educationleaves]

Thank you!

[@musicinfinity255]

Thanks for information

[@alimajid4860]

Thank you very much, very clear and to the point. 1 year long course then graduate confused and tell you , you have to get experience 🤣

[@ARVINDKUMAR-xs3zn]

Really Good explained and cover lots of things. 👍👍

[@Educationleaves]

Thanks!

[@NadaAAbbas]

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

[@Educationleaves]

Thanks!

[@lonerangerr007]

Thank u looks good and very informative

[@Educationleaves]

Most welcome

[@alphaconteh5543]

Very helpful. Thanks

[@Educationleaves]

Ur welcome!

[@jefferytwumasi]

Thank you, very helpful

[@Educationleaves]

You are welcome!

[@alicesekyi8508]

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

[@mohamedqadar8858]

very very helpfully, Thanks Alot

[@Educationleaves]

You are welcome!

[@SinnehKamarah-xi8dj]

Great video

[@noname-bk6lv]

Great Video, easy to understand

[@Educationleaves]

Thank you!

[@halimaessaadiasahraoui2458]

thank you a lot it's very useful

[@Educationleaves]

Ur welcome!!

[@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

[@dabbuish]

Thanks! it was helpful.

[@Educationleaves]

Glad it helped!

[@rizkiaadinda1019]

thanks, it's really helpful

[@Educationleaves]

You are welcome 🙏

[@MuuseSiyaar]

very good thnks

[@sharukhmohdd658]

Thank u sir India

[@BuckowFburnin]

thanks, it's really helpful

[@Educationleaves]

You are welcome!

[@nishantazad8285]

Very nice easy to understand

[@Educationleaves]

Thanks❤️

[@MadaraUchiha-vc4cf]

danko! it means thank you

[@anuragkarri201]

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

[@khawarsatti1403]

Which software you use for video making and sound

[@Akothamadi]

thanks for sharing

[@Educationleaves]

My pleasure

[@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.

[@parshyalg1135]

Wow nice explaining...i like ur videos

[@Educationleaves]

Thank you so much!

[@TemesgenGuye]

Nice learning

[@sannitigokul6484]

This is very help full forme

[@Educationleaves]

Thank you!

[@lawrencejuma3552]

This is useful

[@Educationleaves]

Thanks

[@MdRizwan-kq1up]

very useful

[@Educationleaves]

Thank you!!

[@Ashrayskumar]

GOOD INFO

[@Educationleaves]

Thank you!!

[@elizabethakanjogyue9856]

Very nice video

[@Educationleaves]

Thanks!

[@gaston.]

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

[@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.

[@MaybejustNarbe]

AWESOME

[@Educationleaves]

Thank you!

[@abhishekds1328]

Sir am not able to find PDF download option

[@AnnieLoulou]

@Educationleaves how can I have the PPT with the visuals

[@MdRizwan-kq1up]

good

[@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.

[@sannitigokul6484]

Please make video visual merchandising

[@ojaspurohit5852]

Anyone engineer here from Procurement?

[@turnocent_Bhardwaj]

Logistics

[@-EIE-HarshMishra-qn3ix]

​@@turnocent_Bhardwajare you from which branch

[@mellosuccess7134]

Was of benefit to me

[@Educationleaves]

Glad to know that 😊

[@bijoykhan6286]

Tnkx

[@Educationleaves]

Welcome

[@kagamitaiga9167]

Noiceee

[@abdullahibashirdahir7851]

thanks this will help for all beginner levels

[@rustyt.pasawa2948]

nice

[@Educationleaves]

Thanks!

[@user-lb4qu4zy3y]

simple

[@Im_Luna4216]

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

[@IINGHII]

Make the speed 1.25x and enjoy

[@basilnaidoo2917]

Wheresthe pdf?

[@konasiva1760]

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

[@faithmwende7583]

Same here

[@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.

[@shanky5089]

Sir aap aapna voice dalte to Jayda aacha hota 👍

[@user-vc8of1be1n]

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

[@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?