Procurement in retail refers to the purchasing process of goods and services by retailers to meet the needs of their customers .
This includes the process of identifying and selecting suppliers, negotiating purchasing conditions, placing orders, tracking deliveries, managing inventory, and coordinating with suppliers to ensure regular, reliable supply.
Procurement plays a critical role in ensuring the availability of products on the shelves and meeting customer demands. It involves activities such as identifying product requirements, conducting market research, negotiating with suppliers, and managing contracts.
