Procurement and purchasing departments face daily challenges due to technological innovations, the role of EDI infrastructure, and supplier decisions. Benton (2020) stated that these departments are responsible for a wide range of factors, including materials, supplies, and sale value and purchasing directives can be termed as a roadmap for OEM and MRO transactions. He also indicated that corporations must use their funds wisely and professionally and that purchasing managers must know when to buy and how much profit can increase.
Based on your experience, information within the required reading, and by conducting research online, explain the importance of the procurement decision process. Be sure to provide in-depth information regarding the principles, policies, and procedures involved in the required determination of the procurement decision process.
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