As a procurement professional, we must know about the history of purchasing. Ancient tribes acquire goods through barter system and…
A Purchase Requisition (PR) is an internal document issued by a department requestor in an organization to request a purchase…
Spend Analysis is the process of analyzing current, previous and forecast future spending. It is a process of identifying, gathering,…
A Procurement Management System (PMS) is a set of systems and procedures that gather data from range of sources and…
A recent research study indicates that the concept of drawing on the coordinated expertise of a group from different functional…
People use the terms interchangeably: Purchasing and ProcurementMany people use the terms purchasing and procurement interchangeably but despite their similarities,…