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The basic procurement cycle includes the following:
• Determination of requirements• Determination of the source of supply• Vendor selection• Purchase order processing• Purchase order monitoring• Goods receipt• Goods issues• Invoice verification• Payment processing
Organizations may also set a procurement process based on competitive procurement dollar amounts.
Find a case study that discusses procurement, and then discuss and analyze the procurement cycle.
Using the library, Internet, and your course materials, write a document of 5-6 pages that addresses the above tasks.
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