Procurement and Contract Management

Procurement and Contract Management involves the processes organizations use to acquire goods and services. Procurement is about finding the right suppliers, negotiating prices, and purchasing items needed for operations. Contract Management follows, ensuring that the agreements with suppliers are upheld and that both parties meet their responsibilities. This includes monitoring performance, managing relationships, and addressing any issues that arise. Together, these practices help organizations obtain quality products efficiently while managing costs and risks, ultimately supporting their overall goals.