Contract management is the management of contracts made with employees, vendors, partners and customers. Procurement management is where goods and services are gotten from a different organization.
The difference between procurement management and contract management is between their scope of work as mention below:- The term Procurement is used for one time procurement of an item and a purchase order is used accordingly. In the purchase order, unit price, quantity to be supplied, total price, delivery term, the payment term is clearly mentioned. The supplier delivers the goods or equipment and paid accordingly. The purchase order contains the formatted general conditions of contract as well as special conditions of the contract. The purchaser signs the purchase order and the supplier also acknowledges the purchase order by signing on it.
The term Contract is used for repetitive procurement of same materials /consumables over a period of time. The unit price, total quantity (expected) and Total price is mentioned in the long term contract. Thereafter, order or request is issued to the contractor based on actual requirement whenever necessary to deliver the goods specifying the required quantity, contracted unit price, total price, delivery term and payment term. Contracting saves a lot of time of the purchaser and once contracting is done, it is easy to get the supplies from the contractor.
Materials management covering all the activities related to admin, planning, purchasing & inventory whereas purchasing will be just considering a part of Materials management.
supply cahin starts from the requisitining stage procurement and distribution to the end user, while procurement is the aquisition of goods and services
the difference between production management and operation management?
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Procurement is about buying. Logistics is about transporting.
Materials management covering all the activities related to admin, planning, purchasing & inventory whereas purchasing will be just considering a part of Materials management.
The difference between purchasing and procurement is that to purchase something with currency or money. Procurement is the obtaining of goods and services through a bartering system.
supply cahin starts from the requisitining stage procurement and distribution to the end user, while procurement is the aquisition of goods and services
the difference between production management and operation management?
EPC contract is an Engineering, Procurement and Construction contract that comprises entire project starting from designing, planning, procurement from third parties, clearance of goods, delivery, provision of spare parts, erection, commissioning, testing, completion of facility and correction of defects etc. BOT contract is a built, operate and transfer Contract which also comprises total responsibilities to build the entire project and after operating the project, transfer the same to the Owner of the project. Karuna Kumar
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What are the difference between estate management and business management
difference between mbo and traditional management
Procurement is concerned with the overall gathering of resources, while purchasing is the specific act of acquiring something by paying money for it. Purchasing is one form of procurement.
temporary/contract work