For any organization, procurement represents a critical business process. Effective procurement management confirms that all products and services are acquired in a proper way allowing projects and processes to proceed efficiently and successfully. More than just a business necessity, procurement can be regarded as a competitive edge when optimized to save costs, time, and resources. An effective procurement strategy can also be utilized for negotiating fruitful production and supplier contracts, executing innovative new processes, and can play a decisive role in taking a domestic business operation global. Furthermore, efficient procurement management can also play an essential role in diversification and inclusion by proactively pursuing diverse suppliers.