Procurement Management 101 - A Comprehensive Primer

The video tutorial covers procurement management, explaining how to acquire goods and services from third-party providers. It details six types of procurement contracts, including fixed price, incentive-based, and cost-plus contracts. The procurement management process is outlined in four steps: planning, procuring, monitoring, and closing. The video also highlights differences between public and private sector procurement, emphasizing the need for transparency and adherence to regulations.

What ethical requirements should be considered in procurement?

How do you monitor contract performance effectively?

What are the basic closing tasks in the procurement process?

Discuss the differences between public sector and private sector procurement.