This section covers the process of procuring goods and services.
Today, the procurement process has evolved significantly. There are three key steps that happen before any procurement is conducted. These stages include identifying the need for a product or service, creating an opportunity plan to address that need, and finally developing a request for proposals (RFP).
The first step in the procurement process is identifying the need for a product or service. This may be done by looking at projected trends in demand, analyzing current production levels, reviewing recommendations from other sources, or interviewing customers for their insights. There are many different tools that can be used to help make this decision - both online and offline - depending on what is necessary for each company.