What are the 7 Stages of Procurement

What are the 7 stages of procurement?

These are the 7 important steps in the procurement process:

• Step 0: Defining the need
• Step 1: Request to purchase
• Step 2: Pre- sourcing
• Step 3: Procurement process.
• Step 4: Evaluation and contract.
• Step 5: Contract management.
• Step 6: Invoice approvals and disputes.
• Step 7: Record Keeping, review requirements – one off or recurring