Procurement is the acquisition of goods and/or services. It is favourable that the goods/services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location. Corporations and public bodies often define processes intended to promote fair and open competition for thei! r business while minimising exposure to fraud and collusion. The global recession of 2008-2009 placed procurement at the crux of business strategy. Today Chief Procurement Officers are recognised as important business leaders and have begun to take on broader operations responsibilities.
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