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A Contracting Officer (often abbreviated as KO in the US Army [1] or CO in the US Air Force [2]) is a person who can bind the Federal Government of the United States to a contract which is greater in value than the federal micro-purchase threshold ($10,000 for supplies, in most circumstances). [3]
Procurement as an organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. [3]
Many industries employ procurement officers, from small companies to global organizations. In a small company, the procurement officer may work singly, but often there is a team that executes the purchasing for an organization. A chief procurement officer working for a multinational corporation might manage a globally-dispersed team.
Procurement specialists usually split procurement activities into two parts: Direct procurement. Direct categories are all goods purchased by the company which directly enter into the production process of that company. For the food industry as an example, ingredients and packaging will be the key direct procurement categories. Indirect ...
The procurement team assesses the quality brought by the suppliers, buys the goods, and distributes them to various regional markets. The procurement and sourcing at centralized places helped the company to consolidate the suppliers. The company has established four centralized points, including an office in Mexico City and Canada.
The logistics specialist (LS) is a US Navy enlisted rating that was created on 1 October, 2009 by the merger of the storekeeper (SK) and postal clerk (PC) ratings. [1] It also included the previous functions of the former aviation storekeeper (AK) rating, which was previously merged into the former storekeeper (SK) rating on 1 January 2003.
Indirect procurement is the sourcing of goods and services not related to manufacturing for a business to enable it to maintain and develop its operations. The goods and services classified under the umbrella of indirect procurement are commonly bought for consumption by internal stakeholders (business units or functions) rather than the external customer or client.
Another change was the focus on negotiating contracts and procurement of large capital equipment. Both of these functions permitted purchasing departments to make the biggest financial contribution to the organization. A new term and job title emerged – Strategic sourcing and Sourcing Managers.
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