What are the 7 stages of procurement?
These are the 7 important steps in the procurement process:
- Step 0: Defining the need
- Step 1: Request to purchase
- Step 2: Pre- sourcing
- Step 3: Procurement process.
- Step 4: Evaluation and contract.
- Step 5: Contract management.
- Step 6: Invoice approvals and disputes.
- Step 7: Record Keeping, review requirements – one off or recurring