The official business definition of a Procurement Life Cycle Diagram is a graphical representation of the various stages involved in the procurement process. It is used to visualize the entire procurement process from start to finish, and to understand the various activities that need to be completed for successful completion of the procurement. The Procurement Life Cycle Diagram starts with the definition of the requirements and objectives of the procurement, followed by the sourcing and selection of vendors, negotiation and contracting, and finally the delivery and payment of the goods or services. The diagram also includes other activities such as the evaluation of the performance of the vendors and the management of the procurement process. The diagram helps to identify the various stages of the procurement process, provides an overview of the different activities taking place, and helps to ensure that the entire process is carried out in a consistent and efficient manner. It is an important tool in the management