In the world of supply chain management, the purchasing process is the set of activities that allow an organization to acquire the products and services necessary for it to function and operate. This includes finding and evaluating potential suppliers, negotiating pricing and payment terms, ordering materials, and monitoring delivery performance. The goal of this process is to ensure that needed goods and services are purchased in a timely manner, at the lowest possible cost while meeting quality needs. Put simply, it’s all about getting the right products to the right place at the right time!