1
.
____________________
is
a
____________________
of
____________________
goods
or
services
from
____________________
via
a
tendering
or
bidding
process
.
2
.
____________________
is
a
____________________
by
which
companies
____________________
for
and
receive
goods
or
services
.
It
can
be
considered
a
subset
of
____________________
.
3
.
The
procurement
cycle
consists
of
10
stages
:
i
.
The
____________________
of
the
____________________
to
procure
a
good
or
service
.
ii
.
A
purchased
requisition
(
PR
)
that
needs
to
be
approved
and
passed
to
the
procurement
department
.
iii
.
A
____________________
for
____________________
(
RFQ
)
is
sent
to
a
selection
of
suppliers
.
iv
.
Suppliers
respond
with
catalogs
or
____________________
and
a
period
of
____________________
may
be
entered
.
v
.
A
supplier
is
____________________
and
a
purchased
____________________
(
PO
)
is
raised
,
which
records
the
details
of
the
____________________
price
,
delivery
terms
,
place
of
delivery
,
and
items
or
services
to
be
provided
.
vi
.
The
____________________
is
____________________
and
____________________
by
a
manager
.
It
is
then
sent
to
the
supplier
.
vii
.
The
____________________
or
____________________
are
delivered
and
inspected
.
vii
.
The
____________________
sends
an
____________________
.
x
.
The
invoice
is
approved
and
paid
if
there
is
no
pending
resolution
of
any
discrepancies
.
xi
.
The
procurement
department
____________________
the
____________________
of
the
supplier
based
on
the
quality
,
timeliness
,
price
,
and
completeness
of
the
order
.
This
is
known
as
post
-
____________________
review
.
