Procurement in the next level.
WB, ADB and other worldwide banks invest billions everyday in day-to-day operations. All these operations are managed through Procurement processes. Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process. The process is used to ensure the buyer receives goods, services or works at the best possible price, when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risk, such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and price fluctuations. Procurement generally involves making buying decisions under conditions of scarcity. If good data is available, it is good practice to make use of economic analysis methods such as cost-benefit analysis or cost-utility analysis.
When the World Bank provides financing to its member countries for investment projects, each project is governed by a legal agreement between the World Bank and the Borrower government agency who receives the funds. One of the key obligations in the "loan agreement" is that governments abide by the Bank's procurement policies, as detailed in the Guidelines for Procurement and the Consultant Guidelines. The Procurement Guidelines establish the arrangements to be made for procuring the goods and works (including related services) required for the project. The Consultant Guidelines define the procedures for selecting, contracting, and monitoring consultants required for projects. The Borrower is responsible for advertising business opportunities arising from Bank-financed projects. Procuryx is a public procurement application which helps Procurement Specialist to handle every situation while processing procurement for their project. Procuryx brings a lot of features like :
- Monitoring procurement process dependless on the Bank (WB, ADB, AsDB, ...)
- Archiving documents
- ...