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Procurement management is the systematic approach used for buying all the goods and services needed for a company to stay sustainable.
A procurement contract is an agreement in which a buyer agrees to acquire goods or services from a seller in exchange for consideration.Most of these contracts are written agreements that specify each partyâs obligations in relation to the transaction. procurement contract may be established when goods and services are being acquired from vendors. Construction procurement contracts are common. Government agencies typically require procurement contracts. A procurement specialist working with a colleague.