Management Procurement Definition

The Management Procurement Definition refers to the process of acquiring goods or services for the purpose of managing and running an organization. This can include anything from office supplies to marketing services. The procurement process usually begins with a needs assessment, in which managers identify what products or services they need in order to run their business effectively. Once the need has been identified, managers will develop specifications for the product or service they require. These specifications will be used to solicit bids from potential suppliers. After reviewing the bids, the manager will choose a supplier and award them the contract.