Procurement principal

PRINCIPLES OF PROCUREMENT

a)competition

b)Fairness

c)Accountability

c)Effectiveness

d)Transparency

e)honesty

FACTORS AFFECTING PROCUREMENT FUNCTION

1)Corruption

2)Lack of support from top management

3)Type of organization

4)Autholity limitation

5)political intervation

IMPORTANCE OF PROCUREMENT

1)Assists the organization in securing resources

2)Helps to understand and exploit the market place

3)Builds good co-operation with customer organization