Procurement involves every activity involved in obtaining the goods and services a company needs to support its daily operations, including sourcing, negotiating terms, purchasing items, receiving and inspecting goods as necessary and keeping records of all the steps in the process

Here are the 7 steps involved in the procurement process:

Needs Recognition.
Purchase Requisition.
Requisition review.
Solicitation process.
Evaluation and contract.
Order management.
Invoice approvals and disputes.
Record Keeping

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