.2 Procurement And Process . Procurement Is The Process

.2: procurement and process Procurement is the process by which organizations acquire goods, works and services. The procurement cycle involves planning, beginning with needs assessment through needs preparation, inviting offers, contractor selection, awarding contracts, executing and managing contracts, as well as final accounting and auditing. Procurement can therefore be viewed as a strategic component of supply chain management relating to satisfying customer or buyer needs. The procurement process is one of the most important processes of a company. The procurement process usually varies between companies due to activity times and relations with suppliers (Trkman McCormack 2010). A basic procurement process starts with the†¦show more content†¦These areas of Public procurement process have, for long, been overshadowed with inefficiency, corruption and disregard of fundamental value for money considerations. This has adversely impacted the rate and quality of progress in realizing the objectives of national development, especially in developing and transition countries (Tan et al., 2009). Employees may neither engage in, nor give the appearance of engaging in, dishonest or unethical actions. Both are injurious to the public‘s perception of honest government. As a government employee, you might have access to procurement and other nonpublic information that could affect a contract bid or the award process (Wymer Regan, 2005). Improper di sclosure of such protected information could violate numerous laws, as well as ethics rules. It also could subject you to administrative actions, as well as civil or criminal penalties. 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