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What is Procurement
Procurement is the process of sourcing and purchasing goods and services from an external source, like a third-
party vendor or supplier. Procurement most commonly refers to the formal, official process of purchasing and obtaining materials,
supplies, or equipment, especially in the context of business or government. Many large companies and government agencies have a
procurement department that handles the ordering and acquisition of supplies. Such a department is often simply referred to as
procurement

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