In today’s episode, we are going to discuss “WHAT IS PROCUREMENT?” This is all part of our Learning Logistics series where we discuss the basic Supply Chain and Logistics concepts.

I covered the definition of DEMAND PLANNING in an earlier episode, so feel free to go back to that one if you need a refresher, and I also covered the definition of LOGISTICS in the beginning of the series. Both videos are liked below:

   • What is Demand Planning? Supply Chain...  

   • What is Supply Planning? Supply Chain...  

Procurement is defined as the act of obtaining goods or services, typically for business purposes. Procurement is most commonly associated with businesses because companies need to secure services or purchase goods, in order to sell a product or provide a service themselves. Procurement generally refers to the final act of purchasing but it can also include the overall procurement process which can be critically important for companies leading up to their final purchasing decision.

If you are interested in learning more about logistics and supply chain, and want to become even more knowledgeable and learn from the experts, CHECK OUT OUR COURSES: https://www.mvclogisticsacademy.com

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