Procurement

Procurement is a pan sector function which is fundamental to all businesses, because the ability to assure value for money and effectively manage risk through strategic sourcing, purchasing and supply chain management and development activities will determine if operations continue. Whilst Procurement is a cross sector function, it is a key role within the Logistics sector in terms of managing supply chains. The process of procurement includes preparation and processing of a product or service as well as the end receipt and approval of payment. It often involves:

  • Purchase planning
  • Speciation development
  • Supplier research and selection
  • Value analysis
  • Price negotiation
  • Financing
  • Making the purchase
  • Supply contract administration
  • Inventory control and stores

Standards

Procurement

Qualifications

A range of both vocational and academic procurement qualifications are available within the UK including some NVQs. Full details of available Procurement qualifications in England, NI and Wales can be found at the Register of Regulated Qualifications. For qualifications in Scotland please visit the SQA. QCF units can also be accessed on their respective websites.

 

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