What is procurement management? | Workflow management software | Workflow design tool

 

What is procurement management?

The procurement process lifecycle ideally starts from a purchase request and goes through a series of process such as request approval, request for quote, selection of vendor, raise purchase orders, approval, delivery, invoicing, inventory updates and finally paying the vendors.




 

The main activity/document that becomes the driver of this entire process is Purchase Order. Managing this is highly critical and important to control your expenses. The process shouldn’t not be hold too tight that it slows down the operation and it shouldn’t be too loose that it gives way for mal practices. This becomes a paramount important in today’s world where workforces are distributed.


https://par3software.com/effective-procurement-management/

Location: Singapore

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