Procurement is the formal act of purchasing required goods or services.
Individuals typically visit retailers (shops, markets, websites) and can buy what they need immediately, or can place an order that will be delivered later.
Small businesses may visit retailers, or find a better price at wholesalers.
Enterprises and corporations, however, need to formalise the way that they buy. This reduces chaos, keeps costs down and develops relationships with key suppliers.
Imagine every Tesco store manager going out to buy tomatoes for his own store. A better price could have been negotiated by centralising all the business with a key farmer.
How does Data Source Consulting help?
The problem is that many organisations have little visibility of what is being spent, who with, and where. Without this insight, they are badly positioned to devise a strategy and control their operating costs.
Data Source Consulting implements systems, tools and processes to monitor and control procurement activities.