The Stages in Procurement Process are a set of activities that organizations use to purchase goods and services from external sources. This process typically includes the identification of a need, selection of a supplier, negotiation of a contract, and completion of the purchase. It is important to understand each stage of the process in order to ensure that the purchase is completed in a timely and cost-effective manner.

The first stage of the procurement process is the identification of a need. This involves assessing the organization’s requirements and determining what goods or services are needed to meet those requirements.

The second stage is the selection of a supplier. This involves researching potential suppliers, evaluating their capabilities, and selecting the most suitable one.

The third stage is the negotiation of a contract. This involves agreeing on the terms and conditions of the purchase, such as the price, delivery schedule, and payment terms.

The fourth stage is the completion of the purchase. This involves placing the order, making payment, and receiving the goods or services.

Finally, the fifth stage is the evaluation of the purchase. This involves assessing the quality of the goods or services, the timeliness of delivery, and the overall satisfaction with the purchase.

By understanding each stage of the procurement process, organizations can ensure that they are making the best possible purchasing decisions.