Tender
When most people think of the word procurement, they likely think of buying something. In government and business, procurement is the process of acquiring goods and services. The process usually starts with a need or requirement that is identified and ends when the goods or services are delivered and accepted.
There are many different types of procurements, but they all follow the same basic process. The first step is to identify what is needed. This can be done through a Request for Information (RFI), Request for Proposal (RFP), or Request for Quotation (RFQ). Once the need is identified, potential vendors are solicited and asked to provide information about their products or services. This information is used to evaluate the vendors and choose the one that best meets the needs of the organization.
Once a vendor is selected, a contract is negotiated and signed. The contract outlines the terms and conditions under which the vendor will provide goods or services to the organization. After the contract is signed, the vendor delivers the goods or services according to the terms of the contract. Finally, the organization accepts delivery of the goods or services and pays for them according to the terms of the contract.
The procurement process can be simple or complex, depending on the value and type of goods or services being acquired. In some cases, Procurement Officers are responsible for overseeing all aspects of procurement; in others, they may only be responsible for parts of it. Either way, their goal