Alternative Procedures And Important Aspects Of Procurement Management

Veljko Mijuskovic

Montenegrin Journal of Economics, 2011, vol. 7, issue 1, 133-142

Abstract: Modern company management must take into account all relevant business aspects in order to achieve and preserve the competitive position on the turbulent market. One of the key elements of success is adequate and equal management of different internal operations and company business functions. The analysis of this paper is focused on the determination of the importance of the procurement function in a company. Since this analysis is a complex issue, the attention is dedicated only to certain relevant elements. The paper points out several important moments. Firstly, it explains the importance, character and effects of successful procurement management. Then it makes a clear distinction between traditional and modern procurement procedures. Finally, it points out the relevance of certain additional aspects of the procurement process, such as the legal and ethical procurement angle.

Date: 2011
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