Professionalism In Procurement
There is no doubt that procurement plays a critical role in business. However, procurement is often a neglected part of business. Perhaps because we all purchase for our homes and so take for granted procurement for the value creation process. Procuring for value creation requires strict accountability to the business owner; be it private or government. In the past manufacturers grappled with their costs amid all the inefficiencies, added a margin and were still able to sell. However, technological advancement, fierce competitive and demanding customer taste have placed limitation on the price the market can take; implying pricing strategies have changed from cost-led pricing to price-led costing. Businesses are therefore forced to take this price ceiling and work on their cost for an appreciable margin in order to survive; failing which businesses risk extinction through natural selection. The topic for the Pan African Conference- ‘the strategic role of profession...