about_p1.php

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    <div class="panel-heading">About Procurement</div>
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			Procurement is commonly defined as the acquisition of appropriate goods and/or services at the best possible price to meet the needs of the purchaser in terms of quality and quantity, time, and location. The procurement process formally starts from the point where the need to make a purchase to deliver an objective has been identified, and its process ends when the product has been used up or sold on, or the service contract has been delivered completely and the supplier or contractor is paid in full. The procurement function makes it possible for organizations to plan, acquire and distribute their needed resources – from paper and pens, to mobility items, IT systems and applications, security contracts, consultancies – to continue the business operations of the firm. In any organization, procurement is the largest or second-largest category of expenditure. In contemporary business parlance, the term procurement is an “umbrella” term which includes in its sphere concepts such as logistics and inventory management, online transactions, sourcing and outsourcing, supply chain management and operations, and eBidding. Procurement is an essential function that helps shape corporate strategy and success. </br>
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			All organizations aim for good procurement practices and that means value for money – that is, buying something that is fit for purpose, taking into account the overall cost. A good procurement process should also be delivered efficiently, to limit the time and expense for the parties involved. </br>
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			Procurement is also a major activity in government. In the Philippines, hundreds of billions of pesos is spent by the government to buy the gods and services it needs to operate the bureaucracy, carry out projects and deliver services to its citizens. The World Bank, a development partner, cites that for the past four years.</br>
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