PROCUREMENT

AN OVERVIEW OF PROCUREMENT

General introduction to procurement

Procurement is the process of obtaining goods and services from one another. The vast majority of people in the developed world undertake the process of procurement without giving the process a second thought. The purchase of goods for a consumer is usually a simple transaction. One is usually able to view the goods in their finished state; purchase the goods instantly or in a short period; know the cost of the goods at the time of purchase; and if the goods were to prove faulty be able to return the goods and receive a full refund, exchange the faulty good for a new good in return or have the faulty good repaired.