![]() Procurement generally involves making buying decisions under conditions of scarcity. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and price fluctuations. ![]() Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. ![]()
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