Best Practice Procurement Cycle
A best practice procurement process could include all of the following steps or be shortened to suit the needs of the business or the item being procured. In larger and government regulated organisations the need to comply with rules and guidelines will dictate minimum procurement standards.
Whether you are heavily regulated or just need a quick competitive request for quotations, Triber is quick, low cost and easy to use.
Procurement Lifecycle
Legend
Manage via Triber Procurement Platform
Other Tools / Processes
Business has an Idea/Opportunity/Obligation/ Preferred Suppliers
Business Creates a request for quotations, proposals, tenders, information
Procurement Invites Suppliers
Suppliers Receive Invitation
Suppliers Seek any clarifications
Business/Procurement may update Documentation
Suppliers Provide Responses
Procurement Tracks status of responses
Procurement Closes the Request
Business/Procurement review responses
Business/Procurement and Suppliers exchange questions, answers, ancillary documents
Business/Procurement select & notify the successful Supplier via Triber
Business/Procurement notifies unsuccessful Suppliers
Procurement Upload purchase/services documentation for signature
Procurement issue Purchase Order to Supplier via Triber
Business obtains goods or services
Supplier Paid
