Unique Skill ID: KS1282C778989GJWW9BZ

Procurement Management

Procurement management is the process of acquiring goods, services or works from an external source through a competitive bidding process or negotiation. It involves identifying the right suppliers, negotiating contracts, assessing quality, delivery timelines, and managing relationships with suppliers. Procurement management requires specific skills such as strategic thinking, stakeholder engagement, risk management, market analysis, negotiation skills, and vendor management. Effective procurement management ensures that the goods and services an organization acquires are of the desired quality, at the right price, and at the right time, therefore contributing to the overall success of the organization.

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