What is procurement management?

Procurement management is the process of planning, acquiring, and controlling the purchase of goods and services necessary for the successful completion of a project. It includes determining needs, selecting suppliers, signing contracts, managing relationships with suppliers, and controlling quality and delivery times.

Main tasks of procurement management:

• Determining what and when to purchase
• Searching for and evaluating suppliers
• Negotiating and signing contracts
• Monitoring contract compliance
• Managing risks associated with supplies

Effective procurement management helps reduce costs, ensure timely resource delivery, and improve the quality of the project's final outcome.