Procurement Team Definition
The procurement team is responsible for the identification, evaluation, and selection of suppliers and vendors for an organization. The team manages the contract process from initiation to close-out and works to ensure that all supplier agreements are in compliance with organizational policies and procedures.
The team is typically led by a procurement manager who works closely with other managers and stakeholders within the organization to understand their needs and requirements. The procurement team also works with finance and accounting to ensure that all payments are made in a timely manner and that invoices are accurately processed.
