Procurement Process

In the maritime context, the procurement process refers to the systematic approach of acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. This process is crucial in the maritime industry as it ensures the acquisition of necessary resources such as ship parts, fuel, and other supplies needed for the operation of vessels. The procurement process in the maritime industry typically involves several stages including identification of needs, supplier research and selection, value analysis, financing, negotiation, and finally, the purchase and delivery of goods. It also includes the management of relationships with suppliers, which is crucial for ensuring the timely delivery of goods and services. The procurement process is governed by procurement policies that are designed to ensure fairness, transparency, and efficiency in the acquisition of goods and services. These policies also aim to minimize risks associated with procurement such as fraud, overpricing, and supply chain disruptions.