The procurement process involves a series of steps that organizations follow to acquire goods and services. It typically starts with identifying needs, followed by researching suppliers, and then requesting quotes or proposals. After evaluating the options, the organization selects a supplier and negotiates terms before finalizing the purchase. Once the purchase is made, the organization monitors the delivery and quality of the goods or services. This process may also include managing contracts and ensuring compliance with regulations. Effective procurement helps organizations optimize costs and improve efficiency while maintaining quality in their operations.