Procurement Process in Supply Chain Management is the set of activities and processes that ensures organizations have access to the resources and materials they need for their operations. It involves sourcing, selection, negotiation and contracting with suppliers, managing inventories, controlling stock levels, and ensuring payment is received on time. The process also includes monitoring and reporting on progress, as well as supplier assessment and evaluation. Engaging with suppliers throughout the procurement process is key to a successful supply chain – it allows organizations to identify potential risks and unlock value.