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Business administration. Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1] The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done.
A chief procurement officer (CPO) undertakes an executive role within an enterprise, focusing on sourcing, procurement, and supply management. Typically, a CPO is responsible for the management, administration, and supervision of the company's acquisition programs. They may be in charge of the contracting services and may manage the purchase of ...
A Contracting Officer (often abbreviated as KO in the US Army [1] or CO in the US Air Force [2]) is a person who can bind the Federal Government of the United States to a contract which is greater in value than the federal micro-purchase threshold ($10,000 for supplies, in most circumstances). [3] This is limited to the scope of authority ...
A Contracting Officer's Technical Representative (COTR) is a business communications liaison between the United States government and a private contractor.The COTR is normally a federal or state employee who is responsible for recommending actions and expenditures for both standard delivery orders and task orders, and those that fall outside of the normal business practices of its supporting ...
In the United States, the processes of government procurement enable federal, state and local government bodies in the country to acquire goods, services (including construction), and interests in real property. [1] Contracting with the federal government or with state and local public bodies enables interested businesses to become suppliers in ...
The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work. EPC companies are often used in large-scale projects, such as power plants, refineries, chemical processing facilities, infrastructure projects, and ...
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