Procurement can help a company answer the following question: What quantity of raw materials should we purchase to minimize spoilage?

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Procurement involves the process of selecting vendors, establishing payment terms, strategic vetting, selection, the negotiation of contracts, and actual purchasing of goods. It is directly involved in determining the quantity of materials to purchase, taking into account factors like minimizing spoilage, to ensure efficient production and cost management.

Procurement Can Help a Company Answer the Following Question: What