Procurement and Supply Management

Procurement and Supply Management refer to the processes involved in sourcing and acquiring goods and services needed by a company. This includes choosing suppliers, negotiating contracts, and managing relationships to ensure timely delivery at the best price. In logistics and supply chain management, effective procurement is crucial for maintaining smooth operations, reducing costs, and ensuring quality. It ensures that the right materials are available when needed, which helps businesses meet customer demands efficiently and effectively. Essentially, it's about getting what you need to operate successfully.