SUPPLIERS Procure-to-pay overview

Procure-to-pay overview

Outline of Golden Mine Projects’ procure-to-pay process

The Golden Mine Projects' procurement-to-payment procedure closely resembles that of typical businesses. Depending on assessed risks, the process generally initiates with supplier identification and pre-qualification. Subsequently, it progresses through a competitive market engagement phase, bid evaluation, negotiation, contract award, and eventual issuance of a purchase order or agreement execution.

The concluding stages of this procurement process involve the supplier delivering the goods or services, followed by receipt verification, invoicing, and payment processing.

Phase 1
Supplier identification and classification
Phase 2
Supplier prequalification
Phase 3
Engaging the market
Phase 4
Evaluate – negotiate – award
Phase 5
Release PO – execute agreeement
Phase 6
Provision of goods and services
Phase 7
Receipt, invoicing and payment