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what is procurement

Procurement may be described as the process that creates, manages and fulfils contracts.
Procurement is as such concerned with:

  • establishing and documenting what is required;
  • soliciting from the private sector tender offers to
    • provide supplies or services;
    • to construct or maintain infrastructure;
    • to undertake disposals;
  • awarding contracts to successful tenderers;
  • monitoring that which was contracted to be provided is indeed provided; and
  • paying contractors for executing their contracts.

Public sector procurement falls within the supply chain management functions under acquisition management and may involve activities such as:

  • the provision of supplies, services or engineering and construction works or any combination thereof;
  • the disposal of moveable property;
  • the hiring or letting of anything; and
  • the acquisition or granting of any rights.
 
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