Introduction:
In the realm of procurement, the term "tangible" holds immense importance. It refers to goods or services that are perceptible, measurable, and physically present. In contrast to intangible assets, which lack a physical form, tangible elements play a crucial role in procurement processes. This article will delve into the concept of "tangible" in procurement, providing examples and case studies to illustrate its significance.

Examples:
1. Physical Goods:
In procurement, tangible assets primarily encompass physical goods. These can range from raw materials, equipment, machinery, and finished products. For instance, in the manufacturing industry, procuring tangible goods like steel, electronics, or automotive parts is vital for production processes. The tangible nature of these goods ensures they can be visually inspected, measured, and assessed for quality before being incorporated into the supply chain.

2. Infrastructure and Facilities:
Another aspect of tangibility in procurement lies in the acquisition of infrastructure and facilities. This includes purchasing or leasing tangible assets such as land, buildings, warehouses, or office spaces. Organizations require tangible infrastructure to support their operations and provide a physical base for conducting business activities. Procurement processes related to infrastructure involve assessing the suitability, condition, and compliance of the tangible assets.

Case Studies:
1. Procurement of Aircraft for an Airline:
When an airline seeks to expand its fleet, the procurement process involves acquiring tangible assets in the form of aircraft. Airlines must consider various tangible factors, including the model, age, maintenance history, and overall condition of the aircraft. Physical inspections, technical evaluations, and adherence to safety regulations become critical in ensuring the procurement of reliable and airworthy tangible assets.

2. Construction Project Procurement:
In construction projects, procurement revolves around acquiring tangible materials, equipment, and services. For instance, a case study involving the construction of a hospital might entail procuring tangible assets such as concrete, steel, electrical components, medical equipment, and furniture. The quality, specifications, and compliance of these tangible elements are crucial for successful project execution.

Conclusion:
The concept of "tangible" within procurement emphasizes the significance of physically observable and measurable assets. From raw materials and equipment to infrastructure and facilities, tangible elements are essential for the smooth functioning of procurement processes across various industries. Understanding the tangible nature of goods and services allows organizations to assess quality, conduct inspections, and make informed decisions regarding their procurement strategies. By recognizing the importance of tangibility, procurement professionals can effectively navigate the complexities of sourcing, evaluating, and integrating physical assets into their supply chains.