The infographic “The Procurement Cycle Pyramid: From Planning to Performance” meaning the complete journey of procurement in a structured pyramid model. Starting with strategic planning at the foundation, it progresses through global market research, supplier chain selection, doing negotiation, logistics, and quality assurance, leading to performance review at the high. This visual diagram mentions how each stage builds on the previous one, enhancing efficiency, cost savings, supplier tie up, and long-term value creation.
Strategic Planning
Define business needs, set procurement goals, and align with organizational thoughtful strategies.Market Research
Understand suppliers, industry trends, and pricing line to identify opportunities.Specification & Requirement Definition
Clearly outline product or service requirements to ensure accuracy and quality.Supplier Sourcing
Identify, screen, and shortlist potential suppliers across local and global markets.Supplier Evaluation & Selection
Assess suppliers based on cost, working quality, doing capacity, compliance, and taking risk factors.Contract Negotiation & Agreement
Build strong agreement covering terms, pricing, delivery, and performance clauses.Purchase Order & Approval
Giving purchase orders with clear specifications, timelines, and conditions.Delivery & Logistics
Ensure perfect transportation, on-time delivery, and proper documentation.Inspection & Quality Assurance
Verify product/service quality, compliance, and resolve discrepancies.Performance Review & Continuous Improvement
Evaluate supplier performance, track KPIs, and optimize for long-term success.
Author’s Bio:
Pankaj Tuteja
Head of Operations – India
https://www.dragonsourcing.com