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Procurement process often follows clear guidelines that ensure the process is manageable and procurement is done in time. Although there are different ways the procurement process can be employed in different industries, it is imperative that the procurement process in any industry has its main aim of maximizing the profit opportunities. Sollish (2007 pp. 26) provides that the financial planning and the budgeting of a project follow a similar process in various industries. Another element that applies similarly across industries is the concept of procurement management, which correspondingly plays a vital role in the procurement process. However, the process of procurement can vary according to the industry for instance the procurement process in a construction industry will vary from that of the software industry. Some key factors, which are essential to put into consideration in conducting reviews in these two industries, are the mobility of factors. Whereas the mobility or deliverability of procured items is instant...
Incidentally, the risk in the software industry can be mitigated almost immediately, but reasonable time should be allowed for performance in the construction industry (Sollish, 2007, pp. 29).
It is vital to monitor and manage risks in the procurement process, and this applies regardless of the industry that is undertaking the procurement. Equally significant is the need to improve the process where necessary to attain the desired procurement standards. The key aspects looked at by the process of risk management involve the quality of the goods or services procured as well as its quantity. According to Craig (1999 pp. 19) the quality of the goods or services procured in the software industry cannot be assessed until the software is put into use and this implies that quality can only be ascertained after the procured good is used. On the other hand, the construction sector does not require the use of a procured good to…
Reference list
Craig, R.W. 1999. Procurement law for construction and engineering works and services. Oxford: Blackwell Science Ltd.
Rainer, R.K. And Cegielski, C.G. 2009. Introduction to information systems. Wiley & Sons.
Sollish, F., Johnsemanik. 2007. The procurement and supply manager's desk reference. John Wiley & sons, Inc.
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