THE PROCUREMENT SCHOOL PRESENTS A GUIDE TO PRACTICAL PROCUREMENT Procurement (also known as buying, purchasing, strategic sourcing) is basically buying goods and services. How tough can it be? As professional buyers can tell you, sometimes very. Acting as the broker between end-users and suppliers, professional buyers play a central role in an often complex, high-value process. From clearly defining user requirements, to shaping and running formal competitive processes, they must use limited resources to balance value, organizational policies and stakeholder interests with legal and fairness considerations - all under the scrutiny of suppliers and the media. Informal challenges, litigation and bad press can erode stakeholder confidence and impair an organization's ability to attract and retain the best suppliers. The end result can be failure to achieve critical business objectives. This book walks you through the procurement and contract management cycle, from early planning considerations and market assessment options, to post-contract evaluation and continuous improvement strategies. Using plain language, the book includes real case examples and provides practical tools and sample clauses. Whether you are just starting out or you're a seasoned practitioner, Practical Procurement can help you maximize value and preserve supplier relationships by planning and conducting effective, legally sound procurements.