Acquisition Process Model

The Acquisition Process Model outlines the steps an organization follows to obtain goods, services, or assets. It typically starts with identifying a need, then planning and specifying requirements. Next, the organization researches suppliers, solicits bids or proposals, and evaluates options. Once a supplier is selected, a contract is negotiated and finalized. Afterward, the organization oversees delivery and manages the performance. Finally, there’s an evaluation to ensure the procurement meets objectives. This structured approach helps ensure transparency, efficiency, and value in acquiring resources essential for operations.