London Premier Centre

The procurement function represents an important activity in various projects for its main role in providing hundreds of items, materials, tasks, and requirements required by production conditions. This function is not only a set of steps or operational procedures to complete the purchase order but also holds a high place in the organizational maps in both productive and service projects. The role of procurement management in obtaining tasks and materials in the right quantity and from the right source of purchase, price, quality, and at the right time has a substantial weight to influence the ratio of profits and performance economics of the organization. The Definition of The Procurement Function It is the activities that help the organization to get various needs like materials, tasks, supplies, machinery, and equipment in the right quantity, quality, price and time and from the appropriate source in order to achieve the continuation of production and operation processes, in accorda...

The procurement performance should be measured because the procurement section plays a vital role in the supply chain in light of the economic contraction. Reducing the cost of raw materials and services can allow companies to compete with the price of their finished goods to win business. The precise measure to success at any purchase section is the amount of money the company can save. However, there are several performance measurements that companies can use, such as: 1- Procurement efficiency 2- Procurement effectiveness 3- Procurement function - Performance measurements4 1- Procurement efficiency   Administrative costs are the basis for measuring procurement efficiency. The department is connected to the activities that the procurement section might do in comparison with the budget applied by the department.  If costs are within the budget, then the efficiency of the procurement section will exceed expectations. However, if it uses over-budgeted funds, the purchasing func...

The procurement performance should be measured because the procurement section plays a vital role in the supply chain in light of the economic contraction. Reducing the cost of raw materials and services can allow companies to compete with the price of their finished goods to win business. The precise measure to success at any purchase section is the amount of money the company can save. However, there are several performance measurements that companies can use, such as: 1- Procurement efficiency 2- Procurement effectiveness 3- Procurement function - Performance measurements4 1- Procurement efficiency Administrative costs are the basis for measuring procurement efficiency. The department is connected to the activities that the procurement section might do in comparison with the budget applied by the department.  If costs are within the budget, then the efficiency of the procurement section will exceed expectations. However, if it uses over-budgeted funds, the purchasing function wi...