What is procurement department??

Question

Accepted Answer

Procurement department is responsible for sourcing, purchasing, and managing goods and services needed by an organization.

Procurement department manages the purchasing process for an organization
They source and negotiate with suppliers to get the best deals
They ensure that goods and services are delivered on time and meet quality standards
They manage relationships with suppliers and monitor their performance
They work closely with other departments such as finance and operations
Examples of goods and services procured include raw materials, office supplies, equipment, and services like IT support and consulting
Procurement department plays a critical role in cost management and ensuring the smooth functioning of an organization