Introduction
Procurement is a critical function in both the public and the private sector. While there are similarities between the two sectors, we focus on the differences between public and private sector procurement in this chapter. Procurement is the process of purchasing goods, services, and materials from suppliers; we will review the regulations and the management of the procurement process.
Learning Objectives
Upon successful completion of this chapter, you will be able to:
- Develop a working knowledge of effective supply chain management in the public sector.
- Build an understanding of the complexity of supply chain and procurement in the public sector.
- Develop a working knowledge of the key differences between the public and private sector buying practices.
- Discuss the primary goals and responsibilities in public procurement.
Public Procurement Playbook
Watch this video to learn about the similarities and differences between public and private sector procurement practices.
Source: Procurement Matters. (2023, August 20). Understanding Public and Private Procurement. [Video]. YouTube. https://www.youtube.com/watch?v=NGGcq1jTeuk
