<aside> <img src="/icons/package_gray.svg" alt="/icons/package_gray.svg" width="40px" /> Acquisition is the process of obtaining goods and services

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<aside> <img src="/icons/swap-horizontally_gray.svg" alt="/icons/swap-horizontally_gray.svg" width="40px" /> Procurement is the entire process of sourcing and obtaining those goods and services, including all the processes that lead up to the acquisition

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Conducting the acquisition and procurement process

• Understand the different types of purchase options
  • Company Credit Card
    • Quick purchase of low-cost items
    • Transaction limits and item restrictions
  • Individual Purchase
    • Employee purchases, seeks reimbursement
    • Used in emergencies or when no company credit card is available
  • Purchase Order
    • Formal document issued by the purchasing department
    • For larger, more expensive purchases
    • Dictates payment terms (NET 15, NET 30, NET 60)

Internal Approval Process

• Ensures purchase alignment with company goals
• Validates budget allocation
• Assesses security and compatibility with existing infrastructure

Post-Approval Procurement

• Product compatibility assessment
• Security checks and configurations
• User training
• Integration into the existing workflow