The steps in the procurement process typically are as follows: - Establishing procurement requirements: This involves determining the specifications of the goods or services that are needed, the quantity required, and the expected delivery date. - Selecting a supplier: This includes researching potential suppliers, evaluating them based on their ability to meet the requirements, and selecting the most qualified supplier. - Negotiating: This involves negotiating prices, payment terms, delivery dates, and other terms and conditions of the sale. - Placing an order: This includes submitting a purchase order to the supplier and following up to ensure timely delivery. - Receiving the goods: This includes receiving the goods and making sure that they meet the specifications set in the purchase order. - Managing inventory: This includes monitoring inventory levels, ordering new inventory when necessary, and managing returns or exchanges.