The basic procurement cycle includes the following:
- Determination of requirements
- Determination of the source of supply
- Vendor selection
- Purchase order processing
- Purchase order monitoring
- Goods receipt
- Goods issues
- Invoice verification
- Payment processing
Organizations may also set a procurement process based on competitive procurement dollar amounts.
Find a case study that discusses procurement, and then discuss and analyze the procurement cycle.
Using the library, Internet, and your course materials, write a document of 5-6 pages that addresses the above tasks.