Procurement Audit

 

ASSURANCE SERVICES Procurement Audit

With Lochan & Co, improve your procurement performance through effective and efficient procurement audit. Our professionals will help you review the procurement process, the supply chain of your organization and carry out additional investigation wherever required.

Potential Challenges:

  • Determining the procurement value for money;
  • Inadequate information about suppliers;
  • Inaccurate procurement data leading to inventory shortage, excess inventory etc.;
  • Long process cycle may lead to delays in procurement.

How we can help:

  • Carrying out regular reviews and analysis to identify trends;
  • Development of procurement flexible and responsive strategies;
  • Conducting Post Implementation Reviews to assess achievement of targets;
  • Monitoring supplier performance;
  • Ensuring organizational capability to undertake large or contentious projects;
  • Deal with fraud and corruption in procurement.