Wednesday, March 28, 2018

11-Procurement Plan

What is a Procurement Plan? : A Procurement Plan defines the products and services that you will obtain from external suppliers. A good Procurement Plan will go one step further by describing the process you will go through to appoint those suppliers contractually. Whether you are embarking on a project procurement or organizational procurement planning exercise, the steps will be the same. First, define the items you need to procure. Next, define the process for acquiring those items. And finally, schedule the timeframes for delivery.

When to use a Procurement Plan? It is advisable to create a Procurement Plan whenever you want to purchase items from suppliers. Using the Procurement Plan, you can define the procurement requirements, identify potential suppliers, contract those suppliers and manage them to ensure delivery. Project Procurement Planning is critical to the success of any project.

While developing Procurement Plan :

  • Define your procurement requirements
  • Identify all of the items you need to procure
  • Create a sound financial justification for procuring them

The procurement plan will help to :

  • List all of the tasks involved in procuring your products
  • Schedule those tasks by allocating timeframes and resources