What are the objectives of procurement system?
Though there're 2 main types of the procurement system
(electronic and standard), it's general role is to manage the
'procurement' process (the buying process in businesses). The
system may differ with softwares as a typical procurement tool
would include the purchase requisitions, purchase orders, goods
receipts & invoice processing. It's primary intention is to
lead from the advanced planning, scheduling, and group buying to
result in cost savings, more efficient business operation meaning
an increased profit.