Source and Procurement is a business process that involves the acquisition of goods and services from external sources. It is a complex process that requires careful planning and management to ensure that the right goods and services are obtained at the right price and in the right quantity. The process involves the identification of potential suppliers, negotiation of contracts, and the management of the supply chain. Source and Procurement also involves the management of the supplier relationship, including monitoring performance, resolving disputes, and ensuring compliance with the terms of the contract. The goal of Source and Procurement is to obtain the best value for the company, while minimizing risk and ensuring the highest quality of goods and services. It is a critical component of a successful business, as it helps to ensure that the company is able to meet its operational needs in a cost-effective manner.