Procurement and Purchasing

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Procurement and Purchasing

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Procurement and Purchasing
Executive Summary
The procurement process involves obtaining products and services from suppliers for
business consumption. It is the responsibility of the procurement officer to outline business need
and carry out an evaluative process in deciding whether a product will be more productive in the
business environment. Business is involved in diverse activities, especially the ones which are
profitable to the operations. To conduct its activities in a most oriented manner, Pegasus Group
has a responsibility of ensuring complex procurement process which is beneficial to the
organization. Before engaging in complex procurement, it is better to understand the beneficial
aspect associated with the product about the cost impacts. The technological impacts of the
product or device should be evaluated, focus the long run affairs of the institution. Organizations
are bound to engage in benchmarking processes before adopting a particular device; this is
mainly adapted to avoid the typical mistakes which may arise, especially when trying a new
product. The environmental factors are very important in understanding the impact of the device
in general. The procurement process should not be constrained on one product or device, but
alternatives should be provided to enable management and other pertained experts in evaluating
the best outcome. The external pressures may affect the quality decision making ideas
(Feinstein,2017). In consideration of the necessity of device, the industrial capability to
accommodate the device without any external constraints is varied important, especially in
determining the sides.

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Table of Contents
Executive Summary................................................................................................... 2
Introduction................................................................................................................ 4
Application of theory and/or concepts learnt in the course........................................5
Action Plan recommended for Pegasus......................................................................8
Reference................................................................................................................... 9