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. The government regulates the following services; travel, transportation, technology, procurement and acquisition of goods and services. The main procedures in government procurement are; contract planning, contract formation and governing of the contract. The federal acquisition regulatory carries out all the acquisition procedures. Below are the importance of federal acquisition regulation.
The government acquisition management ensures contracts and tenders are issued to the right companies and people. The government acquisition regulation will come up with the standards that a company or person must attain in order to be given a government tender. The company must also avail all the registration details, previous tender information, licensing information and price expected. Age is important when issuing a tender to an individual.
The federal procurement management is important in controlling corruption. Many governments have experienced favor and corruption in the giving of tenders and contracts. Many of the cases in the corruption courts are awarding of tenders and contracts to friends and relatives. The government procurement management will eliminate corruption and favor.
The federal acquisition management ensures quality services, machines and equipment are acquired. Before the government receives goods and services, the government acquisition management must ensure they meet the minimum standards. Previously, many government departments used to acquire substandard machines and equipment as well as pocket huge amounts of money meant for the acquisition process. The acquisition management also ensures the procurement officers do not liaise with any business, company or organization.
A government acquisition management will ensure the right amount of money is used. The government procurement management will research on the right amount of money needed in the acquiring of the products and services. The budget will enable procurement department to set aside the right amount of money. This will enable the government procurement management to determine if a company has hiked its 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.
These are the advantages of the government procurement management.