Procurement is a purchasing activity whose purpose is to give the purchaser best value for money. For complex purchases, value may imply more than just price, since quality issues also need to be addressed. Moreover, lowest initial price may not equate to lowest cost over the operating life of the item procured. But the basic point is the same: the ultimate purpose of sound procurement is to obtain maximum value for money.
At OEL, we make sure our clients get the maximum value for their money, we have also adopted a Procurement software, labeled as E-procurement software which manages the purchasing processes electronically and/or via cloud computing, this also serve as an important element of supply chain management systems, these systems help organizations efficiently manage our purchasing cycle times and maximize profit on every purchase order.
OEL also understand the Procurement life cycle which in modern business environment consist of seven steps which are;
Identification of Need:
A sound procurement system is one that combines all the above elements. The desired impact is to inspire the confidence and willingness-to-compete of well-qualified vendors. This directly and concretely benefits the purchasing entity and its constituents, responsive contractors and suppliers, and donor agencies providing project finance.
Orevstar Energy Limited have over the years, gained ample experience in the procurement, supply and installation of Laboratory equipment, tools and Chemicals for testing and other drilling and production activities within the oil and gas sector of the Nigeria economy.