What does the procurement and supply cycle aim to address?

The procurement and supply cycle is designed to comprehensively address various aspects of procurement processes, particularly focusing on high and medium value one-off procurements. This is significant because one-off procurements often involve more complex decision-making, requiring a structured approach to ensure that all necessary steps are taken, from identifying needs to contract management and performance review.

The cycle emphasizes the necessity to analyze market conditions, supplier options, and cost factors, which are integral in high-value situations where the impact of procurement decisions can have substantial effects on the organization's financial health and operational efficiency. Additionally, the procurement and supply cycle includes stages such as planning, sourcing, negotiation, and contracting, ensuring that every facet of the procurement process is optimized for effectiveness and value.

While supplier relationship management is an important aspect of procurement, it is a part of the broader procurement cycle rather than the sole focus. Thus, the procurement and supply cycle's inclusive nature is why the aim is to address high and medium value procurements thoroughly rather than limiting its scope to specific procurement situations or contracts.