The process of sourcing goods and materials, negotiating with suppliers, paying for goods, and making delivery arrangements is called

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Procurement is the process of acquiring goods and services, including sourcing, negotiating, purchasing, and managing suppliers. E-procurement refers specifically to the use of digital technology for these processes, while SCM (supply chain management) is a broader term that encompasses the entire process of managing the flow of goods and services from suppliers to customers. Sourcing is a key element of procurement, but it does not encompass the entire process.

The Process of Sourcing Goods and Materials, Negotiating with Suppliers