The term lean-procurement relates to automatic transaction, sourcing, bidding and auctions using Web-based applications, and the use of software that removes human interaction and integrates with the financial reporting of the firm.

Question

Quizplus · Accepted Answer

Lean procurement focuses on eliminating waste and improving efficiency in the procurement process, rather than specifically on automation or software integration. It aims at streamlining processes, reducing costs, and enhancing value in the procurement cycle, not solely on technology use.

The Term Lean-Procurement Relates to Automatic Transaction, Sourcing, Bidding and Auctions