Procurement Management

Procurement Management

Procurement management is the process of acquiring goods and services from external suppliers. It involves the identification of potential suppliers, the negotiation of prices, the selection of suppliers, and the management of supplier contracts.

Procurement management is a critical function in any organization. It ensures that the organization obtains the goods and services it needs to operate effectively, while also minimizing costs. An effective procurement management system can help an organization to save money, improve quality, and reduce risk.