# Procurement Management

**IRI:** https://folio.openlegalstandard.org/R7l8szCmPEsbTem2cDwEDvd

## Labels

## Definition

Procurement Management refers to the process of acquiring goods and services for a business or organization, and involves activities such as identifying needs, selecting vendors, negotiating contracts, and managing supplier relationships.

## Sub Class Of

- https://folio.openlegalstandard.org/ROb7P1zmS9dqMfXoFzhfu6

**Deprecated:** False