Procurement business process is the process of acquiring goods and services from external sources. It is an essential part of any business and is responsible for ensuring that the organization is getting the best value for its money. The process includes identifying and evaluating potential suppliers, negotiating contracts, managing orders, and ensuring that the goods and services are delivered on time and within budget. It also involves managing the relationship between the organization and its suppliers, ensuring that the supplier meets the organization’s quality standards and is able to provide the necessary support and services. Procurement business process is an important part of any organization’s success and should be managed carefully to ensure that the organization is getting the best value for its money.
