Key Activities in Operational Procurement

This Skill Bit shows that operational procurement ensures seamless daily acquisition of goods and services. Key activities include creating and issuing purchase orders, managing supplier relationships, and overseeing order fulfillment to meet quality and timelines. It involves demand forecasting to optimize inventory, invoice processing for timely payments, and ensuring contract compliance. Risk management identifies and mitigates potential disruptions. Effective operational procurement optimizes costs, maintains smooth operations, and enhances customer satisfaction.

Duration approx. 8 Min.

Tier: advanced

A part of Procurement for Contract and Project Managers course.