Fill in the Blanks Topic 1Online version The Concepts of Procurement by Khairunnisa Yahaya 1 1 . is a of goods or services from via a tendering or bidding process . 2 . is a by which companies for and receive goods or services . It can be considered a subset of . 3 . The procurement cycle consists of 10 stages : i . The of the to procure a good or service . ii . A purchased requisition ( PR ) that needs to be approved and passed to the procurement department . iii . A for ( RFQ ) is sent to a selection of suppliers . iv . Suppliers respond with catalogs or and a period of may be entered . v . A supplier is and a purchased ( PO ) is raised , which records the details of the price , delivery terms , place of delivery , and items or services to be provided . vi . The is and by a manager . It is then sent to the supplier . vii . The or are delivered and inspected . vii . The sends an . x . The invoice is approved and paid if there is no pending resolution of any discrepancies . xi . The procurement department the of the supplier based on the quality , timeliness , price , and completeness of the order . This is known as post - review .
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