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What does 'Procurement Management System' mean?

Procurement management system is a software that automates and streamlines the process of purchasing goods and services for an organization. It is designed to help companies manage their procurement activities, from sourcing and selecting vendors to creating purchase orders and tracking deliveries. The system centralizes all procurement tasks, such as supplier management, contract management, and inventory management, into one cohesive platform. This allows for better control and visibility over the entire process, improving efficiency and reducing costs. One of the key features of procurement management

Software with Procurement Management System functionality