Supply Chain Define in procurement is a process by which purchasers acquire goods and services from the most efficient and effective suppliers. It involves managing long-term strategic relationships with suppliers, analyzing market trends to make smart decisions about where to source materials, developing systems and policies that govern supply chain operations, and minimizing costs while maximizing quality. It’s an ongoing effort that requires careful strategy and planning. By taking a proactive approach to procurement and understanding how different elements of the supply chain fit together, companies can ensure they’re getting the best value for their money.