oboloo Glossary

How To Procure Goods And Services

oboloo Glossary

How To Procure Goods And Services

Obtaining goods and services through procurement is an essential process for organizations and businesses. It refers to the process of acquiring the goods and services required by an organization in an efficient and economical manner. Procurement can range from simple purchase orders, to complex contracts that involve sophisticated negotiation over pricing, quality, delivery, payment terms, and other important factors. Engaging in proper procurement is not only critical to ensure the organization receives the best value for money, but also helps to ensure safe, high-quality products and services that meet the needs of the stakeholders.