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For example Reliance Communications is characterized by high annual growth in excess of 40 percent. In addition to this, operations are being scaled up via network expansion involving huge capital expenditure and a considerable part of the expenditure is for procurement.
In several organizations, often the approach to buying stationery items and critical components is no different. This is not only a risky way of doing business but it also limits options in reducing costs. Items on the procurement list could be categorized in accordance with costs and risks to the business and then separate set of guidelines can be evolved to set out practices for procurement...
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