Problems and prospects process of procurement department at BRAC Bank Limited

Abstract

BRAC Bank Limited is one of the largest operational ventures of BRAC which is established by Sir Fazle Hasan Abed. After facing so many obstacles and legal obligations BBL started its operation from July 04, 2001. It has established with an aim to alleviate poverty and empowering poor and bringing changes in their lives. The bank also continuously works to uphold the “Three P” agenda that means Planet, People and Profit as a part of sustainable and glorious banking journey. With the passage of time BRAC Bank Limited has become the fastest growing bank in Bangladesh. And now it has become the market leader in the Small Medium Enterprises (SME) business. Here BBL has targeted the missing middle the middle or small business people. BBL by starting its journey in 2001 now it has152 branches, 12 Apon Shomoy, 313+ ATMs, 30 CDMs, 399 SME unit offices , 11 CRM center and almost 8500employees. Along with SME banking it is continuously broadening its horizon into Retail banking, corporate banking, Probashi banking and other arenas of banking. Its main focus is to set a standard as the absolute market leader by bringing efficiency, friendliness and modernized automated service on a profitable basis so that, BBL is providing 100% integrated on-line banking. BBL is one of the members of the Global Alliance for Banking on Values (GABV) Among with 20 different departments there is one department named fixes procurement department and that particular department has taken the responsibility of every single procuring item of BRAC Bank Limited. Procurement department is responsible for buying, replacing, keeping record of every daily necessary item. To do this procurement department use some software, and put purchase order number to every single item.