What is the importance of a procurement plan?

planning consider the guidance for the buyer ,all buyer should be aware at least for three months plan so he can prioritize the required item to be available in time ,and according to the plan the buyer can control the POs by put a highlights for each of them to keep follow up with vendor to ensure delivery in time

Planning in procurement is significant as it is for any other discipline. Here, one always finds new and unknown situations which are beyond effective intervention of the buyer. Planning in procurement enables the buyer to devise and implement a strategy to deal with such events in proactive manner. Besides this, planning in procurement has the usual benefits for smooth operations of organization.

• Identify potential new suppliers and subcontractors.• Appraisal and evaluation of Vendor capabilities• Preparation and follow up of the Tender process. • Create RFQ for the main subcontracted packages, materials and services• Receive, manage and resolve tender queries and clarifications• Analyze and compare tender returns• Hold post tender meetings for negotiations• Techno‐commercial evaluation, preparation of comparative statements and provide recommendation to relevant parties• Formalize subcontract documentation for prequalification• Drafting of Contracts following approved templates • Generating PO for services and materials in the ERP of the company