What is Public Procurement?
Before going towards Public Procurement it is necessary to learn about "Procurement".
Procurement:
"Procurement is a Business Management Function that manages the entire process of acquisition of external resources in an efficient and economical manner"
Procurement is basically a Purchasing Process as we do every day for ourselves. In purchasing we look for the best quality in a cheaper process and sometimes do bargaining with the seller. when this purchasing is done in an organization then its called Procurement. this procurement is done under some Rules & Procedures/ mechanism.
Public Procurement:
Acquisition of external Resources by the Government using Public Funds, Grants and Gifts under Public Procurement Rules.
The Purchasing by Government organizations / Departments and Ministries etc undr Public Procurement Rules is called Public Procurement.
There are some Rules and Procedures for doing this Function which are called Public Procurement Rules.
The Public Procurement also needs proper attention and the following points should be considered for better outcomes/Results and to best utilize the Public Funds:
- Right Quality.
- Right quantity.
- Right Price.
- Right Time & Place.
- Right Source.
A tutorial Video has been uploaded on the YouTube Channel. For further details please watch the Channel. Give suggestions in the comment section so that it may be made more clear and attractive.
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https://youtu.be/0jCCGrECcw0
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