B2B (Business to Business)

Business-to-Business (B2B) procurement refers to the commercial exchange of products and services between two businesses. Such exchanges are typically facilitated through complex contractual agreements that involve multiple stakeholders from both parties. By leveraging strategic sourcing and negotiation, B2B procurement generally seeks to increase profitability, reduce operating costs, improve operational efficiency, and minimize risk. Additionally, it works to ensure compliance with established industry standards, regulatory requirements, and corporate objectives.