1. Scope of work: Clearly define the goods or services that need to be procured, including specifications, quantities, quality standards, and delivery requirements.
2. Budget: Establish a budget for the procurement process, including costs for goods or services, shipping, taxes, and any other related expenses.
3. Procurement method: Determine the most appropriate procurement method for the project, such as competitive bidding, request for proposals, or direct negotiation.
4. Supplier selection criteria: Develop criteria for evaluating and selecting suppliers, including factors such as price, quality, experience, and delivery capabilities.
5. Contract terms and conditions: Define the terms and conditions of the contract, including payment terms, delivery schedules, warranties, and dispute resolution mechanisms.
6. Risk management: Identify potential risks associated with the procurement process and develop strategies to mitigate them, such as conducting due diligence on suppliers or establishing contingency plans.
7. Stakeholder engagement: Involve key stakeholders in the procurement process, including project managers, finance teams, and end users, to ensure alignment with project goals and objectives.
8. Performance monitoring: Establish key performance indicators to track supplier performance and ensure that goods or services are delivered in accordance with the contract terms.
9. Compliance: Ensure that the procurement process complies with relevant laws, regulations, and organizational policies, including ethical standards and sustainability requirements.
10. Continuous improvement: Regularly review and evaluate the procurement process to identify areas for improvement and implement best practices to enhance efficiency and effectiveness.