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The 7 steps of an effective procurement process are: 1) Identify requirements for goods and services from all business units; 2) Identify and evaluate potential suppliers; 3) Negotiate contracts with selected suppliers; 4) Raise a purchase requisition and release a purchase order; 5) Complete the payment process upon

The 5 Pʼs of logistics Planning, Procurement, Production, Placement, and Performance serve as foundational elements that drive the industryʼs success. These principles guide logistics management, ensuring the efficient movement of goods and resources across supply chains.

Fairness, integrity, and transparency These three principles are bundled together because they mirror the similar qualities of good faith and goodwill in transactions. Fairness, as a principle, means the procurement process is free from preference, judgement, self-interest, and favouritism.

1) To purchase the right quality of materials; 2) To purchase the materials in right quantities; 3) To make the materials available at right time; 4) To purchase the material at right price; 5) To purchase the materials from the right source.

The document outlines the 5 essential ʼPʼs in effective procurement management: proposal, planning, pricing, people, and project management. Each ʼPʼ plays a critical role in the procurement process, from inviting offers to ensuring timely delivery of goods or services.

The three Cʼs in procurement and savings tracking are Control, Consolidation, and Cost Savings. These elements are essential for optimizing procurement processes, managing resources efficiently, and achieving cost savings.

In English, the 5Sʼs are: Sort, Straighten, Shine, Standardize, and Sustain. 5S serves as a foundation for deploying more advanced lean production tools and processes.