The federal acquisition management is the act of directing and governing the procedures of procurement of a government. This is important in ensuring quality goods and services are delivered and competent employees are hired across all the departments or ministries in the government. Federal acquisition manages the following solutions and services; technology, motor vehicle, travel and transportation, procurement, goods, and services. Planning a contract, forming a contract and administration of the contract are the major activities of the federal acquisition management. In a government, federal procurement regulation ensures all the federal acquisition rules and regulations are followed. Below are the importance of federal acquisition regulation.
A government procurement management facilitates issuing of tenders and contracts to the right candidates. Before giving a contract or tender, the government acquisition management will ensure the person or the company has met all the minimum set requirements. In order to determine whether a company or individual is competent, the federal procurement management also asks for the registration information, details of the previous contracts and the price the company or the individual expects for the provision of the goods and services. In order to ensure the majority of the contract winners are the youth, age is also considered.
The government procurement regulation also reduces corruption. A lot of people have been sued by their respective government as a result of malpractices during the giving the tenders. In many governments, the procurement managers offer contracts and tenders to their relatives without attaining the right standards. The government procurement management will eliminate corruption and favor.
The government acquisition management will thoroughly check the quality of goods and services offered to the government. The products and services being offered to the federal government must be checked by the federal acquisition management to determine if they are of the right standards. In a country, the government procurement management will ensure no malpractices in awarding of tenders and contracts. The acquisition management also ensures the procurement officers do not liaise with any business, company or organization.
In order to use the right amount of money in the acquisition of goods and services, a government procurement management is important. Before issuing a contract, the acquisition management will do a research on the amount of money needed to carry out an activity or issue a certain service. The budget will enable procurement department to set aside the right amount of money. The procurement management is, therefore, able to choose the companies which have not exaggerated their prices.
The government acquisition management awards contract penalties. The federal procurement management has the responsibilities of investigating the companies suspected of bribery and corruption and slapping them with heavy penalties.
The above are benefits of the federal procurement management.