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The reduction in value of a fixed asset due to use, obsolescence, etc Series of steps that must take place to supply a production line or to replenish stock in a distribution center. Identifying the items that must be procured and determining the necessary quantities is the first step. This information is used to generate a requisition which is sent to the purchasing department. The assigned buyer requests bids and awards the purchase order to a vendor. When the ordered items arrive, they are entered into the inventory system. The parameters for a procurement cycle may be set by a known production schedule or vary based on consumer demand or other factors.
the procurement cycle ,means the route of PR from initiator to the delivery of the task
accuracy of information necessarily signature compliance with the rule
all the above subject to the company or project system or procedures
