Competitive Procurement

Competitive procurement involves opening the process to bids and tenders to obtain the best value. Noncompetitive procurement (sometimes called “sole source” or “single-source” procurement) happens when the buyer either selects the company to buy from or restricts the bidding process to certain suppliers

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Processing of Procurement

The Planning Process. Project management for procurement is usually divided into four major processes: planning, selection, administering and closing procurement. The first part, planning, involves the creation of the official procurement management plan.

Competitive Tendering

Competitive tendering (bidding) is a widely used procurement method within government agencies and private sector organizations. The idea behind competitive tendering is that it forces suppliers to compete and (so the theory goes) consequently the purchaser and taxpayer will gain better "value for money"