Procurement Management

Procurement management is the process of acquiring goods and services that an organization needs to operate effectively. It involves identifying what to buy, selecting suppliers, negotiating contracts, and ensuring that the right products are delivered on time and within budget. This process helps organizations manage resources efficiently, reduce costs, and maintain quality. Good procurement management is essential for businesses to achieve their goals, as it ensures they have the necessary tools, materials, and services to function successfully while minimizing risks and maximizing value from their purchases.