Improvement of procurement process through introduction of information technologies

Abstract

This work defines the term procurement as the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. It is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Consequently, improvement of procurement activity of a company will increase its efficiency and profitability.