“Procurement” is the overarching function that describes the activities and processes to acquire goods and services. Importantly, and distinct from “purchasing”, procurement involves the activities involved in establishing fundamental requirements, sourcing activities such as market research and vendor evaluation and negotiation of contracts. It can also include the purchasing activities required to order and receive goods

Job Description

• Liaises with key company employees to determine their product and service needs
• Monitors business trends and product availability to pay the best price for company goods and services without acrificing quality or delivery times
• Nurtures relationships with suppliers to negotiate the best prices for company
• Identifies and researches potential new suppliers
• Researches new products and services to meet company’s goals
• Assesses total costs of company purchases
• Develops and implements strategies for procuring, storing, and distributing goods or services and maintaining stock levels
• Oversees a team of purchasing agents (in large companies)
• Reports to the chief procurement officer

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