InvestorsHub Logo
Followers 30
Posts 2169
Boards Moderated 0
Alias Born 08/29/2011

Re: punk153 post# 32714

Friday, 09/09/2011 7:14:33 PM

Friday, September 09, 2011 7:14:33 PM

Post# of 54312
I am in a different industry but I've bought expensive machinery like this. When I go to one of these shows I come back with a big bag of literature and have collected and passed out a bunch of business cards. Over the next few weeks I go through all this crap and figure out what really makes sense to pursue.

I discuss the options with my bosses and put together a proposal that shows how making the purchase will benefit my company, along with a Corporate Appropriation Request. This gets reviewed and signed off by several managers then goes to each of the VPs. If they approve, the CEO and, for this much money, the Board would review and sign off.

Once I get through that, I write up the procurement spec and the order, which goes to Purchasing. They spend a week or three trying to negotiate the price down before FINALLY placing the firm order.

Not a quick process.