Procurement & Payment Management: Procurement & Payment are the Supply Chain Management functions. Procurement plays a very important role supply chain management. Procurement savings is a substantial area that managers usually focus on. Is a buyer today still just an order maker? No, procurement today is a highly technical, scientific field and not an area for the feint-hearted. Procurement can be defined as:”Procurement is the acquisition of goods and/or services at the best possible total cost of ownership, in the right quantity and quality, at the right time, in the right place and from the right source for the direct … Continue reading Procurement and Payment Management