Procurement Function
The procurement function can be defined as the process of acquiring goods or services from external suppliers. The main objective of procurement is to obtain materials or services at the best possible price and quality, while ensuring that the supplier is able to meet the required delivery schedule.
In order to achieve this, procurement must take into account a number of factors, including the availability of resources, the financial situation of the company, and the market conditions for the goods or services in question. In addition, procurement must also ensure that all relevant legal and regulatory requirements are met.