Purchasing Process Definition in procurement is the process of determining the necessary steps to be taken to acquire goods and services from vendors. It involves taking stock of current needs, conducting a cost analysis, developing a strategy for selecting suppliers, setting payment terms and conditions, determining logistics, and finalizing contracts with suppliers. Engaging stakeholders at each stage of the process helps ensure that all parties understand their roles and obligations. By proactively establishing clear and concise policies and processes, organizations can save money and resources and enjoy greater efficiency in the delivery of goods and services.